PPS +7.53%: a strong move higher against a weak session for the market, the investment platform impressed at their HY results. Revenue margins increased 9bps, while EBITDA jumped 52% to $11.4m on the back of margins climbing 7.5 percentage points to 32.2%. Cost control drove the result, with costs up 6% against revenue climbing 17%. Overall a good set of numbers, Praemium also has a cash balance of $38m and flagged a dividend policy that will be announced later this year.
MM is bullish PPS
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