UK's Arcontech ascends on upbeat annual profit outlook

Arcontech

24/07/2023 08:36

** Shares of Arcontech Group  ARC.L  gain as much as 8.8% to
69.6p 
    ** The financial-markets data provider sees profits for year
ended June 2023 above market expectations on lower-than-expected
staff related costs and delay in hiring 
    ** Sees FY adj core profit 31% higher than market
expectations and adj PBT 49% ahead of expectations 
    ** Keeps FY outlook unchanged 
    ** Up to last close, stock had fallen ~ 19% so far this year

 (Reporting by Prerna Bedi in Bengaluru)
 ((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))