CyanConnode has confirmed that its FY trajectory has undershot management’s original expectations. Bureaucratic delays in India have meant that terms on four significant contracts are now unlikely to be negotiated in time to have a material impact on FY19E performance. Further, an existing contract has also been delayed. We have reset our estimates accordingly, roughly doubling the EPS loss in FY19E and retain our FY20E estimates given the current uncertainties over contract timing. Whi
31 Oct 2019
Update on commercial pipeline; rebasing estimates
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Update on commercial pipeline; rebasing estimates
CyanConnode Holdings plc (CYAN:LON) | 8.6 0 (-1.1%) | Mkt Cap: 25.9m
- Published:
31 Oct 2019 -
Author:
Kartik Swaminathan -
Pages:
5
CyanConnode has confirmed that its FY trajectory has undershot management’s original expectations. Bureaucratic delays in India have meant that terms on four significant contracts are now unlikely to be negotiated in time to have a material impact on FY19E performance. Further, an existing contract has also been delayed. We have reset our estimates accordingly, roughly doubling the EPS loss in FY19E and retain our FY20E estimates given the current uncertainties over contract timing. Whi