Solid trading and share buybacks planned

Amino has released a positive update on trading for the year to 30th November 2017. Management disclosed that trading remained solid in the second half of FY17E, with adjusted pre-tax profit expected to be in line with market expectations and an “excellent” pipeline. In our view, the prospect of material share buybacks (announced on Friday) sends a positive signal on the outlook for profits and cash generation, and we leave earnings estimates unchanged.

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