| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
Essensys revenue slips in H1 on pandemic impact, but on track to meet market expectations
StockMarketWire.com
|
Cloud services provider Essensys reported said first-half performance was in line with expectations as revenue slipped following the pandemic impact.
For the half year ended 31 January 2021, revenue fell to £10.6 million from £11.4 million year-on-year, in line with management expectations, while recurring revenue increased to £9.8 million from £9.7 million.
New site openings continue to be impacted by the pandemic which resulted in an expected reduction in non-recurring revenues during the period, the company said.
Adjusted EBITDA, which strips out share option charges and exceptiona costs, for the half year is 'expected to be in line with management expectations,' the company said.
'During H1 FY21 the Group signed contracts with 18 new customers including a number of high value strategic accounts which are expected to provide significant long-term expansion opportunities,' it added.
The new integrated software platform was expected to be launched in March 2021, as planned.
Looking ahead, the company continued to expect current year financial performance to be in line with market estimates.
At 8:44am: (LON:ESYS) share price was 0p at 152.5p
Story provided by StockMarketWire.com
|
|
|
|
|
|
