A busy post-YE update reveals a strong H2 performance despite the second wave of COVID-19, and management expects to meet our FY20 forecasts of revenue and adj. earnings growth. As noted last year, there will be a £1.6m exceptional provision in FY20 for replacing its US tracking devices as 3G service ends there in 2022; it will not affect FY20 adj. earnings but will impact FY21 cashflow. YE net cash was slightly above expectations at £10.6m despite a laudable repayment of all government COVID su ....
11 Jan 2021
Quartix - FY20 growth forecasts met despite COVID lockdown
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Quartix - FY20 growth forecasts met despite COVID lockdown
Quartix Technologies PLC (QTX:LON) | 155 0 0.0% | Mkt Cap: 75.0m
- Published:
11 Jan 2021 -
Author:
Michael Hill | Cavendish Research -
Pages:
9
A busy post-YE update reveals a strong H2 performance despite the second wave of COVID-19, and management expects to meet our FY20 forecasts of revenue and adj. earnings growth. As noted last year, there will be a £1.6m exceptional provision in FY20 for replacing its US tracking devices as 3G service ends there in 2022; it will not affect FY20 adj. earnings but will impact FY21 cashflow. YE net cash was slightly above expectations at £10.6m despite a laudable repayment of all government COVID su ....