10th Dec 2018 15:07
LONDON (Alliance News) - eServGlobal Ltd said Monday that it expects its annual revenue for 2018 to be between EUR7.0 million and EUR7.5 million, lower than previously forecast.
eServ shares were trading down 13% at 5.02 pence.
"It is disappointing that some of the orders expected to be closed in December 2018 have slipped into 2019. However, our customers remain committed to eServGlobal and we look forward to updating the market on progress of the business and on its potential sale in 2019," Executive Chairman John Conoley said.
He added: "This, coupled with the strong contracted support and order base of up to EUR7.5 million for 2019 gives the board confidence that the new financial year will show improvements on 2018."
The company expects to enter the new financial year with up to EUR7.5 million of recurring revenue and revenue deferred from 2018, excluding new projects currently in negotiation.
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