Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Global consultancy company COSOL (COS) has upgraded its earnings guidance for the 2020 financial year
  • The company’s operating business, COSOL Australia, increased its forecast earnings before interest and tax by five per cent
  • This bumps the guidance up from roughly $4.07 million to $4.27 million
  • Audited accounts and results are expected to be reported on August 26, 2020
  • COSOL’s share price is up 13.7 per cent to 54 cents per share

Global consultancy company COSOL (COS) has upgraded its earnings guidance for the 2020 financial year.

The company was admitted to the ASX official list in January this year, prior to the COVID-19 downturn. At that time, it forecast COSOL Australia would table earnings before interest and tax (EBIT) of $4,068,656.

In mid-March, when the market hit its lowest point, COSOL reaffirmed this guidance, stating it had not been materially impacted by the pandemic as it was accustomed to providing remote support to its clients.

Further, COSOL predicted its work improving clients’ business processes and IT systems would continue to be sought after as the widespread working from home transition occurred.

Today, the company has increased its guidance by five per cent, bringing the expected EBIT for the current financial year to roughly $4.27 million.

COSOL anticipates that it will release its audited accounts and results for the 2020 financial year on August 26, 2020.

The company’s share price is up 13.7 per cent to 54 cents per share at 2:20 pm AEST.

COS by the numbers
More From The Market Herald
ELMO Software (ASX:ELO) - CEO, Danny Lessem

" ELMO Software (ASX:ELO) launches new COVID-19 tracking module

ELMO Software (ELO) has launched a new module, enabling businesses to track employee’s COVID-19 vaccination and test status.

" Vection Technologies (ASX:VR1) launches upgraded virtual reality design tool

Vection Technologies (VR1) shares are trading in the green after launching an upgrade to its virtual reality design application MinDesk.
Damstra (ASX:DTC) - Chairman, Johannes Risseeuw

" Damstra (ASX:DTC) completes $18m TIKS Solutions buy

Damstra (DTC) has completed the acquisition of software-as-a-service (SaaS) business TIKS Solutions.
Adveritas (ASX:AV1) - Cofounder and CEO, Matthew Ratty

" Adveritas (ASX:AV1) sees TrafficGuard integrate with Google Cloud Marketplace

Adveritas (AV1) has seen TrafficGuard officially accepted and integrated into the Google Cloud Marketplace.