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Adept reinstates annual guidance as revenue continues to improve
StockMarketWire.com
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IT services provider Adept reinstated guidance and said third-quarter revenue was higher than the average achieved in the prior two quarters as new sales order volumes remained at a 'healthy level.'
'Trading in Q3 of the current financial year (October to December 2020) remained resilient and in line with management expectations,' the company said.
During Q3, the company didn't make use of the Coronavirus Job Retention Scheme due to sustained customer demand and had no intention of using the scheme during Q4, it added.
Customer credit continued to improve, with collection days declining from the 33 days achieved in September 2020 to 28 days at 31 December 2020.
In the run up to year end, AdEPT would be hosting a Capital Markets Day in March 2021, the company said.
'We will provide a further trading update in early April 2021 in respect of the trading results for the year ended 31 March 2021 which are expected to be announced in July 2021,' it added.
At 9:29am: (LON:ADT) AdEPT Telecom PLC share price was 0p at 232p
Story provided by StockMarketWire.com
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