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Arcontech Group PLC announced on 24 July 2023 that for the year ended 30 June 2023, turnover is expected to be in line with market expectations. The company anticipates adjusted EBITDA and adjusted profit before tax to be ahead of market expectations by approximately 31% and 49% respectively, noting these are preliminary figures subject to audit, with full results expected in early September 2023.
| Date | 24 Jul 2023 |
| Time | 07:00:05 |
| Category | Trading updates |
| ID | 8823G |
ARCONTECH GROUP PLC
("Arcontech" or the "Company")
Trading Update & Notice of Results
Arcontech (AIM: ARC), the provider of products and services for real-time financial market data processing and trading, announces that for the year ended 30 June 2023 turnover is expected to be in line with market expectations and adjusted EBITDA and adjusted profit before tax is expected to be ahead of market expectations by approx. 31% and 49% respectively through a combination of lower than anticipated staff related costs arising from lower variable costs and delayed hires. These are expected to be once off savings in the year to 30 June 2023. Expectations for the current financial year therefore remain unchanged.
Financial expectations noted above are preliminary and subject to year-end financial close and audit review processes.
Notice of Results
The Company's results for the 12 months ended 30 June 2023 are expected to be announced in early September 2023 and the Board look forward to updating shareholders with further details at that time.
Enquiries:
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Arcontech Group plc |
020 7256 2300 |
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Geoff Wicks, Chairman and Non-Executive Director |
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Matthew Jeffs, Chief Executive |
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finnCap Ltd (Nomad & Broker) |
020 7220 0500 |
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Carl Holmes/George Dollemore Harriet Ward (ECM) |
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The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.
About Arcontech
Arcontech Group Plc (LSE: ARC) is the leading independent provider of financial market-data infrastructure and display solutions. With multi-source data collection, value added processing, publishing, distribution and display, Arcontech provides a highly performant, cost effective and flexible alternative to traditional market data infrastructure or building it in-house.
Solutions can be "off-the-shelf", customised or completely new developments; Cloud, On-prem or Hybrid. Our deep domain knowledge and automated test suite ensure the right solution at the right time at the right price.
We are also Bloomberg, Refinitiv and Symphony development partners underlining our independence and ability to deliver viable, value added, vendor agnostic solutions to meet financial institutions real-time market data workflow needs.
Our clients include Global Tier 1 and Tier 2 financial market participants along with key market regulators.
For more information about us and what we can do for you, please visit: www.Arcontech.com