Blancco expects to report FY17 revenue growth of 40%, in line with our forecast. After providing for a previously flagged late payer, adjusted operating profit is expected to be c £5.5m. We have revised our forecasts to reflect the bad debt provision and slightly higher operating expenses, as well as reflecting the recent fund raise. We reduce our FY17e normalised EPS by 42% and FY18e and FY19e by 12%. We forecast net cash of £1.5m at the end of FY17.
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Cleaning house
- Published:
10 Jul 2017 -
Author:
Katherine Thompson -
Pages:
3
Blancco expects to report FY17 revenue growth of 40%, in line with our forecast. After providing for a previously flagged late payer, adjusted operating profit is expected to be c £5.5m. We have revised our forecasts to reflect the bad debt provision and slightly higher operating expenses, as well as reflecting the recent fund raise. We reduce our FY17e normalised EPS by 42% and FY18e and FY19e by 12%. We forecast net cash of £1.5m at the end of FY17.