May 28, 2024 05:45 GMT
Intermediate Capital Results Due This Morning
FINANCIALS
Intermediate Capital (ICPLN: BBB pos/BBB) FY24 (12M to Mar-24) results are due this morning.
- ICP’s global credit chief moved on during the last month (to join hedge fund, Arini, reportedly) and it raised a AUD300m private credit fund from three key investors.
- Spreads are flat on the last month and c.60bp better YTD (€IG financials: -9bp and -50bp) and the equity is up 38% YTD (S&P Euro financials: +7%).
- Earnings estimates are up 8% for FY24 (and 5% for FY25) with revenue upgrades lagging these figures but still in positive territory.
Results are due at 0700 (London time) with a conf call at 0900 on: https://web.lumiconnect.com/#/m/138020806
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