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    Martin Young

    Research Analyst at Investec

    Martin Young is an Executive Director and Senior Equity Analyst at Investec, specializing in the South African telecommunications, media, and technology sectors. He actively covers key companies such as MTN Group, Telkom SA, Vodacom, and Blue Label Telecoms, with a track record of accurate calls and detailed coverage that has been recognized for driving insightful market perspectives; available performance metrics suggest strong credibility and consistency, with notable recommendations featured in leading financial publications. Young began his career in financial analysis over a decade ago, previously holding analytical roles at Nedbank and Standard Bank before joining Investec in 2017. He is registered with the South African Institute of Stockbrokers and holds professional certifications in securities analysis.

    Martin Young's questions to PNN.L leadership

    Martin Young's questions to PNN.L leadership • H1 2023

    Question

    Martin Young sought clarity on full-year guidance, questioning the impact of lower revenue on operating profit consensus and the accounting treatment of a GBP 20 million bond gain. He later asked directly if the current consensus operating profit is too high.

    Answer

    Executive Paul Boote confirmed the bond gain is likely a non-underlying item and that lower H2 financing costs will provide some offset. He affirmed that consensus operating profit expectations are likely too high and need to be adjusted downwards to reflect the announced revenue impact from customer water-saving incentives.

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