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Nex rating too high

Nex rating too high

Nex (NXG) has cut its profit expectations for the first half of its financial year, after accelerating its investment in its core post-trade risk and information business. The operating margin is expected to be around 20 per cent for the six months to the end of September – down from 29 per cent at the end of March, and still well adrift of the group target rate of 40 per cent by 2020.

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