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Investing.com -- Zigup shares rose 2% on Tuesday after the company’s AGM statement indicated that performance in the first four months of the year was in line with management expectations.
The company reported that hire durations in its Claims & Services division have remained stable, addressing previous concerns about the impact of shortening durations on profitability following post-COVID normalization last year.
Zigup also noted that Vehicles on Hire has increased year-over-year, which aligns with analyst modeling of 3.2% growth. Several insurance customers have renewed their contracts, typically with expanded capacity or products.
The company’s leverage ratio, which stood at 1.8x for fiscal year 2025, has remained within the target range of 1x-2x.
Based on this update, analysts remain confident that Zigup can deliver year-over-year growth in EBITA (earnings before interest, taxes and amortization) this year on an ex-disposal basis, with no changes expected to consensus estimates.
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