Gentrack’s (ASX:GTK) sales hit by market conditions - Sequoia Direct Pty Ltd

15JanJanuary 15, 2020

Gentrack’s (ASX:GTK) sales hit by market conditions

Software company, Gentrack Group (ASX:GTK) has announced it is continuing to experience difficult market conditions in its key utilities markets. The conditions are impacting Gentrack’s sales pipeline to a greater degree than previously expected.

Also impacting the company’s financials is news one of itssignificant UK utility customer’s, E.ON has indicated that it intends to suspend deployment of its new Gentrack billing platform.

Gentrack is currently assessing the financial implications of both the broader adverse market conditions and E.ON’s decision.

The company will release an updated FY20 outlook to the markets as soon as a reforecasting exercise is complete.

Shares in Gentrack Group (ASX:GTK) closed 2.2 per cent higher yesterday at $3.73.

Copyright 2020 – Finance News Network

Source: Finance News Network

Related Posts

01NovNovember 1, 2019

AP Eagers (ASX:APE) completes Kloster Motor Group sale

01 Nov 2019 - AP Eagers (ASX:APE) completed its sale of the Kloster Motor Group business to the Tony White Group yesterday.

16MarMarch 16, 2020

Healius (ASX:HLS) rejects proposal from The Partners Group

16 Mar 2020 - Healius (ASX:HLS) has unanimously rejected the takeover proposal from Partners Group.

16SepSeptember 16, 2019

IMF Bentham announces conditional settlement Australian shareholder class action

16 Sep 2019 - Litigation funder IMF Bentham (ASX:IMF) has today confirmed that it has reached a binding settlement deed in the securities class action against UGL which is conditional only on final approval by the Federal Court of Australia.

20MarMarch 20, 2020

Wesfarmers (ASX:WES) report weakness in sales of apparel

20 Mar 2020 - Wesfarmers (ASX:WES) report that since the start of the calendar year, overall momentum in the Group’s retail sales has continued in line with the first half of the financial year.

04DecDecember 4, 2020

Marley Spoon (ASX:MMM) CEO here to stay

04 Dec 2020 - Subscription-based meal kit provider Marley Spoon (ASX:MMM) has renewed its service agreement with CEO and founder Fabian Siegel.

25OctOctober 25, 2019

Atomos (ASX:AMS) set to acquire Timecode Systems

25 Oct 2019 - Atomos (ASX:AMS) has signed an agreement to acquire Timecode Systems for approximately $5.68 million in cash and approximately 9.2 million shares in Atomos.

06FebFebruary 6, 2020

Service Stream (ASX:SSM) increases dividend

06 Feb 2020 - Leading essential network services company Service Stream (ASX:SSM) today released its financial results for the half-year ended 31 December 2019, showing adjusted NPAT of $32.3 million up 28 per cent on the prior corresponding period.

13AugAugust 13, 2020

Woodside (ASX:WPL) records US$4.067 billion profit loss

13 Aug 2020 - Woodside Petroleum (ASX:WPL) has reported a US$4.067 billion (A$5.7 billion) loss of 28% in first-half profit due to a drop in oil and gas prices in the height of the Covid-19 pandemic.

08OctOctober 8, 2019

ANZ (ASX:ANZ) flags $559 million blow to profits

08 Oct 2019 - ANZ (ASX:ANZ) will take a $559 million hit to its second half 2019 Cash Profit as a result of increased provisions for customer related remediation.

08MayMay 8, 2023

Stocks of the Hour: Adelong Gold, Lynas Rare Earths, Siren Gold

08 May 2023 - A snapshot of the stocks on the move featuring Adelong Gold (ASX:ADG), Lynas Rare Earths (ASX:LYC) and Siren Gold (ASX:SNG).