Aquis Exchange Lowers FY24 Guidance
Why we think this is bad
The RNS announcement indicates that Aquis Exchange's FY24 financial performance will be £3.7m lower than previous expectations, which is a negative development. This suggests the company is facing some headwinds or challenges that have impacted its financial outlook.
Key Points
- FY24 financial performance to be £3.7m lower than previous expectations
- Increased Expected Credit Loss provisions for two existing technology clients
- Underlying trading performance in line with Board expectations
- Balance sheet remains strong with net cash position of £13.7m
Summary
Aquis Exchange PLC has announced that its FY24 financial performance will be £3.7m lower than previous expectations. The company cites increased Expected Credit Loss provisions for two existing technology clients as the reason for the lower guidance. However, Aquis remains focused on diversifying its technology client mix and is encouraged by recent growth and positive momentum in the late-stage sales pipeline. The underlying trading performance of the business for FY24 remains in line with Board expectations, and the company's balance sheet remains strong with a net cash position of £13.7m as at 31 December 2024.