4th Sep 2018 08:29
LONDON (Alliance News) - Alfa Financial Software Holdings PLC said Tuesday that delays in some major contracts, a smaller number of completed projects, and the negative impact from a weakening in the dollar all led to a sharp fall in first half earnings and revenue.
The asset finance industry focused software company said it remains confident in the restarting and implementation of two major delayed projects and it continues to make incremental cost savings to achieve immediate operational efficiencies.
Shares in the company were down 13% at 137.20 pence each at start of trading on Tuesday, the worst performer in the FTSE 250 Index.
For the six months to June-end, Alfa Financial recorded pretax profit of GBP8.6 million, down from GBP14.0 million in the comparative year ago period, on a revenue of GBP32.9 million and GB45.1 million, respectively.
For the full year, the company said the total contract value of its project pipeline remains in line with the comparative year; however, the pace of conversion has not materially increased
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