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- Gentrack Group (GTK) shares are 24 per cent lower this morning as the company is experiencing difficult marketing conditions
- It says this is impacting its sales pipeline to a greater degree than previously expected
- On top of that, a significant U.K utility customer has suspended the deployment of Gentrack’s billing platform
- The company says it is currently looking into the financial implications
- Gentrack is down 25.20 per cent on the market this morning, trading at $2.79 per share
Gentrack Group (GTK) shares are 25 per cent lower this morning as the company is experiencing difficult marketing conditions.
The software company says this is impacting its sales pipeline to a greater degree than previously expected.
On top of that, a significant UK utility customer, E.ON, has suspended the deployment of Gentrack’s billing platform.
E.ON intends to focus its resources on the integration of the recently acquired Npower business.
On market close yesterday, Gentrack was at $3.73 per share.
The company says it is currently looking into the financial implications from the market conditions and E.ON’s decision.
“Gentrack is currently assessing the financial implications of both the broader adverse market conditions and E.ONβs decision,” the company told the market.
A detailed reforecasting exercise has commenced.
The company expects to update the market on the financial year 2020 outlook, within the next week.
Gentrack is down 25.20 per cent on the market this morning, trading at $2.79 per share at 12:41pm AEDT.
