RIB Software (OTCPK:RSTAY) [ETR:RIB] has released its full Q3 financial figures on October 30. The results were strong, with both top line and bottom line considerably beating our expectations.
Following the results, the stock climbed only moderately to €23.74 or c.3% in intra-day trading while subsequently falling to as low as €22.5 (c. -3%) and closing at €23.10 - flat. We believe, such erratic stock movements, despite strong results, signify the market still remains rather skeptical of RIB's M&A driven growth story.
However, as we highlighted in our first article (see "RIB