EML -9.38%: the half-year result for the payment solutions business was a tough one as regulatory pressure weighed on performance. Revenue was up 2% to $117m, a 5% miss, while EBITDA halved to $13.4m vs consensus at $15.8m. Much of this miss was driven by one-off regulatory costs that took $8.1m off the number, something the company is struggling to shake. Guidance was revised lower by 4% to $235-245m and profit guidance of a $4m loss to a $4m profit was provided for the first time, below consensus of $7.5m profit. Hard to dress up a weak result.
MM is neutral EML
Add To Hit List
