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Tungsten lose customer worth 5% of revenue
StockMarketWire.com
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Digital financial management software firm Tungsten Corporation are disappointed' at the loss of an existing customer.
The customer, who has not been named, accounted for 5% of Tungstens revenues in the twelve months ended 31 October 2020.
Tungsten is currently evaluating the impact on revenue and profits for the FY22 period and onwards and will says it will provide a further update in due course.
Andrew Lemonofides, chief executive, commented: We are disappointed to be advised of this decision and to be losing an important customer.
However, we have a healthy pipeline of new business opportunities and will concentrate our efforts on replacing the volume relating to this transitioning contract over the coming 12 months.
At 2:44pm: (LON:TUNG) Tungsten Corporation share price was 0p at 31.35p
Story provided by StockMarketWire.com
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