Feb 18 2019
Recent Research
permanent tsb Group, FY 2018 results preview
Feb 18 2019
AIB Group, FY 2018 results preview
Feb 18 2019
Bank of Ireland, FY 2018 results preview
Feb 18 2019
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...
