FLT +4.57% held their AGM today and provided a trading update while they highlighted growth in corporate transaction volumes and emphasised short-term profitability – all very positive relative to their last update.
- FLT guided to Profit Before Tax (PBT) in the range of $365-405m for FY25 with consensus currently sitting at $397m, so its’d a slight downgrade at the mid-point.
They have had a tough run and shares are down a long way, now trading at much more attractive valuation, and we suspect a bit of relief today that things are not worse – a relief rally.
MM remains neutral FLT
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