7th Oct 2015 08:35
LONDON (Alliance News) - Boxhill Technologies PLC, a payment software and lottery company, on Wednesday cautioned that revenue for its last financial year will no longer grow by as much as previously expected.
The company said it expects revenue for the year ended July 31 to be 40-50% higher than the prior year, compared with previous management expectations of at least double.
"This has been due to certain contracted business falling into the new financial year that was anticipated to be in the year to July 31, 2015, which in turn has resulted in the current year getting off to a strong start," Boxhill said in a statement.
Boxhill said that operating profit continues to increase, against the 2014 financial year, as well as the second and first halves of the most recently ended financial year.
Operating profit for the year to July 31 is expected to come in at between GBP600,000 and GBP650,000, on revenue of between GBP2.0 million and GBP2.1 million, Boxhill said. Those numbers are based on unaudited management figures.
The company expects to publish its audited annual report and accounts in November.
Shares in Boxhill were flat at 0.390 pence on Wednesday morning.
By Samuel Agini; [email protected]; @samuelagini
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