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Alfa Financial Software lifts outlook on performance amid ongoing momentum
StockMarketWire.com
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Asset finance industry software maker Alfa Financial Software upgraded its outlook on performance amid ongoing momentum.
The company said it expected to exceed its current revenue expectations for the year ending 31 December 2020 by just under 5% with all of the benefit flowing into EBIT in addition to the continuing benefit of the reduced costs.
The update on its outlook comes as positive momentum from earlier in the year continued, with strong performances seen in both October and November. The company said it anticipated that December would also be better than previously expected.
'We noted at the half year that we had seen reduced travel, conference and marketing costs as a result of the pandemic. This reduced level of spend has continued through the second half,' the company said.
'We were also expecting to complete some internal infrastructure upgrade projects, but with time being spent supporting revenue growth, these costs have been delayed into 2021,' it added.
'We do expect an increase in our costs as we return to a more normal level of working, along with the impact of the delayed internal projects noted above and with an increase in the levels of holiday being taken once the travel restrictions from the pandemic have eased.'
At 9:18am: (LON:ALFA) Alfa Financial Software Holdings Plc share price was 0p at 126.4p
Story provided by StockMarketWire.com
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