- Global consultancy company COSOL (COS) has upgraded its earnings guidance for the 2020 financial year
- The company’s operating business, COSOL Australia, increased its forecast earnings before interest and tax by five per cent
- This bumps the guidance up from roughly $4.07 million to $4.27 million
- Audited accounts and results are expected to be reported on August 26, 2020
- COSOL’s share price is up 13.7 per cent to 54 cents per share
Global consultancy company COSOL (COS) has upgraded its earnings guidance for the 2020 financial year.
The company was admitted to the ASX official list in January this year, prior to the COVID-19 downturn. At that time, it forecast COSOL Australia would table earnings before interest and tax (EBIT) of $4,068,656.
In mid-March, when the market hit its lowest point, COSOL reaffirmed this guidance, stating it had not been materially impacted by the pandemic as it was accustomed to providing remote support to its clients.
Further, COSOL predicted its work improving clients’ business processes and IT systems would continue to be sought after as the widespread working from home transition occurred.
Today, the company has increased its guidance by five per cent, bringing the expected EBIT for the current financial year to roughly $4.27 million.
COSOL anticipates that it will release its audited accounts and results for the 2020 financial year on August 26, 2020.
The company’s share price is up 13.7 per cent to 54 cents per share at 2:20 pm AEST.