StockMarketWire.com - Software provider Castleton Technology warned on profit as weaker-than-expected product and professional services revenue amid a tough comparative hurt growth.

While revenue, earnings (EBITDA) and cash generation was expected to show a material improvement in the second half of the year, this was not expected to be sufficient to meet current market expectations, the company said.

The weaker outlook comes as trading in the second half of the year had been behind expectations, primarily due to product and professional services revenue being lower than anticipated, the company said.

The increase in recurring revenue had not been enough to offset the reduction in one-off revenue, and as a result of this, revenue, earnings (EBITDA) and operating cash were lower than the strong comparable period last year, the company said.

For the six-month period to 30 September, the company expected to generate revenue of no less than £11.6m and adjusted earnings (EBITDA) of no less than £2.9m.




At 8:27am: [LON:CPT] Concepta Plc share price was 0p at 1.45p



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