Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Gentrack Group (GTK) shares are 24 per cent lower this morning as the company is experiencing difficult marketing conditions
  • It says this is impacting its sales pipeline to a greater degree than previously expected
  • On top of that, a significant U.K utility customer has suspended the deployment of Gentrack’s billing platform
  • The company says it is currently looking into the financial implications
  • Gentrack is down 25.20 per cent on the market this morning, trading at $2.79 per share

Gentrack Group (GTK) shares are 25 per cent lower this morning as the company is experiencing difficult marketing conditions.

The software company says this is impacting its sales pipeline to a greater degree than previously expected.

On top of that, a significant UK utility customer, E.ON, has suspended the deployment of Gentrack’s billing platform.

E.ON intends to focus its resources on the integration of the recently acquired Npower business.

On market close yesterday, Gentrack was at $3.73 per share.

The company says it is currently looking into the financial implications from the market conditions and E.ON’s decision.

“Gentrack is currently assessing the financial implications of both the broader adverse market conditions and E.ON’s decision,” the company told the market.

A detailed reforecasting exercise has commenced.

The company expects to update the market on the financial year 2020 outlook, within the next week.

Gentrack is down 25.20 per cent on the market this morning, trading at $2.79 per share at 12:41pm AEDT.

GTK by the numbers
More From The Market Herald
X2M Connect (ASX:X2M) - Chief Operating Officer, Keith Jelley

" X2M Connect (ASX:X2M) signs two service contracts in South Korea

X2M Connect (ASX:X2M) has secured two new Software-as-a-Service (SaaS) and maintenance contracts with Gochang County and…
North Stawell Minerals (ASX:NSM) - Non Executive Chairman, Jerry Ellis

" North Stawell Minerals (ASX:NSM) extends Gellatlys gold trend to 3.5km

North Stawell Minerals' (ASX:NSM) recent aircore drilling program has extended the Gellatlys gold trend to 3.5…

" Rafaella Resources’ (ASX:RFR) Santa Comba shows improved recoveries

Rafaella Resources (ASX:RFR) has revealed positive metallurgical testwork results from the Spanish Santa Comba project which…
Raiz Invest (ASX:RZI) - CEO, George Lucas

" Raiz Invest (ASX:RZI) FUM surpasses $1 billion

Raiz Invest (ASX:RZI) has reported its funds under management (FUM) has passed the $1 billion benchmark…