True Corp. Plc

True Corp. Plc

 

Fuelled by a consistent buildup of network quality, TRUE’s revenue market share rose to 20.8% in 4Q15 – well on its way to reaching its 34% revenue market share target by 2018. We expect red ink only this year with growth resuming from 2017 as it steadily grows its market share – not the 3-5 years of losses expected by the market. Meeting our expectations would be a share price catalyst. Buy. 

 

Positive tone at meeting. TRUE’s management held an analysts meeting at which the tone was positive and coincided with our expectations. Key takeaways:  

 

 TRUE guides to revenue growth in the mid-teens and EBITDA growth in the high teens in 2016, driven largely by its mobile arm, as it continues to expand revenue market share from 20.8% in 2015.