permanent tsb Group

FY 2018 results preview

2018 results will demonstrate a c.70% reduction in non-performing exposures (NPEs), assuaging any lingering solvency concerns. With a ratio just below 10%, NPEs will be a continued focus;...

AIB Group

FY 2018 results preview

AIB will report FY 2018 results on March 1st with loan growth, non-performing exposure (NPE) reduction and capital requirements the key focus in our view. Focus on the magnitude and...

Bank of Ireland

FY 2018 results preview

Bank of Ireland reports FY 2018 results on February 25th with net interest margin (NIM), loan growth and progress on transformation the key areas of focus in our view. Initial...

ARYZTA

Depressed valuation as the market awaits evidence of productivity programme

Despite ongoing inflationary pressures and a tepid demand environment, we expect ARYZTA to reiterate FY guidance on March 12th (Davy model weighted to H2). The equity contract...

Kingspan Group

Well positioned to close out a decade of real progress

Kingspan remains a stand-out and a top pick of ours in the European building materials sector. Results for 2018, due on February 22nd, will confirm an eighth consecutive year of...

RBS

Initiation of coverage: best efforts undermined by uncertain economic outlook

RBS should enter 2019 with welcome clarity regarding its investment case and go-forward momentum following further restructuring progress, efficiency gains as well as a resolution to...

Glanbia

An evolving set of building blocks in place to drive future growth

With momentum strengthening through 2018, we expect Glanbia’s upcoming results to confirm the achievement of FY 2018 targets. 2019 is set to continue in this fashion, underpinned by...

Monthly Market Monitor

Global equities beat January blues; MSCI AC World Index +7.1%

The MSCI AC World Index had its strongest start to a year since its inception (December 1987), jumping 7.1%. All regions advanced with North America (+8.1%) the standout. Developed and...

Irish banks

Monthly update: the price you pay

The wider move in bank credit spreads in recent months prompts us to revise our issuance assumptions, with c.2% downgrades to forecast profits. Solid progress in 2018 towards...

IFG Group

Looking to 2021; updating forecasts post strategy review

2018 was a year of significant change for IFG. A strategic review early in the year concluded with the retention of Saunderson House and significant management changes, while the year...