Teleperformance jumps as H1 reveals improving sales trends
** Shares in office services and call centre company Teleperformance TEPRF.PA rise 10%after strong H1 results that revealed improving business trends, and confirmed FY guidance indicating the pursuit of shareholder returns
** H1 sales grew 1.7% pro forma basis to 5.08 billion euros ($5.50 billion), which Midcap Partners says is in line with consensus
** Teleperformance confirms its guidance for the full year, and says it aims for "sustained increase in the net free cash flow and pursuit of the shareholder capital return policy,"
** Sarah Thirion from Midcap Partners attributes the share reaction to results and outlook revealing a gradual improvement in co's growth, as well as "solid" FCF generation, and comments about share buybacks
** EBITA of 703 million euros was in line with overall forecasts but exceeded Midcap's own expectations, the broker says
** "The group is currently working in partnership with
its clients on more than 300 AI projects, including GenAI projects, demonstrating that these solutions generate savings and improve quality, accuracy, and sales conversion," Midcap adds
** The shares, topping France's SBF120 index .SBF120, head for their best day in about three months
($1 = 0.9245 euros)
Reporting by Olivier Sorgho
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