The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • 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 Online
The Market Online Video

Market Close: Green lights up on ASX for Easter hunt go

The ASX200 closed the day in record territory - nearly a per cent up with every…

Week 13 Wrap: Easter bunny delivers new all time high for ASX200

Another week, another all time high. The ASX200 clocked 7,901pts on Thursday for the first time…

Market shrugs as Fisher & Paykel announces mass recall

Fisher & Paykel has initiated a voluntary limited recall of batches of Airvo 1 and my…
The Market Online Video

Market Update: ASX glows red hot with another hit record

The ASX200 is trading up, hitting a new high of 7901 point and eclipsing the last…