Claranova has reported Q422/FY22 revenue substantially in line with our forecast. The group reported revenue growth of 4% for Q422 and 1% for FY22. As has been the case year to date, a slower performance in PlanetArt has offset growth in Avanquest and myDevices to result in a relatively flat revenue for the full year. We have reduced our FY22 EBITDA forecast to reflect the revenue restatement and higher costs in PlanetArt.
10 Aug 2022
Claranova - Flat revenue in a challenging year
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Claranova - Flat revenue in a challenging year
Claranova has reported Q422/FY22 revenue substantially in line with our forecast. The group reported revenue growth of 4% for Q422 and 1% for FY22. As has been the case year to date, a slower performance in PlanetArt has offset growth in Avanquest and myDevices to result in a relatively flat revenue for the full year. We have reduced our FY22 EBITDA forecast to reflect the revenue restatement and higher costs in PlanetArt.