UK's Eneraqua Technologies hits near 1-month low on bleak rev outlook

Eneraqua Technologies

14/03/2023 08:27

** Shares of Eneraqua Technologies Plc  ETP.L  fall as much
as 14% to 301p, their lowest since Feb. 15
    ** The heating and water-saving services provider expects
FY23 revenues below market expectations, hurt by delay in start
of projects following inflationary and cost pressures on clients
    ** Sees FY23 revenue of about 55 mln pounds ($66.8 mln),
below market expectations in the range of 61.3-61.5 mln pounds
    ** Co says no contracts have been cancelled, with delivery
moving into future years
    ** Expects FY core profit within market expectations of
11.4-12.2 mln pounds
    ** Stock set to post worst day ever, if trend holds 
    ** Including session's losses, stock down 3% YTD


($1 = 0.8230 pounds)

 (Reporting by Aby Jose Koilparambil in Bengaluru)
 ((abyjose.koilparambil@thomsonreuters.com))