Fortnox shines after Q4 beat, hiked dividend

Fortnox AB

15/02/2024 08:28

** Shares in Fortnox  FNOX.ST  soar 19% after the Swedish
software company posts Q4 results above expectation and ups its
dividend 
    ** "Sales grew by 26% y/y and beat our forecast by 3%," says
Redeye, attributing the beat to stronger-than-expected growth in
Transactions and Lending 
    ** The company's Q4 EBIT rose 48% from year-ago to SEK 186
million ($17.71 million), which Redeye also says was higher than
expected
    ** The company proposed to raise its dividend to 0.20
Swedish crowns per share, from 0.12 crowns year ago
    ** If gains hold, shares are on track for their best day in
eight years

($1 = 10.5046 Swedish crowns)

 (Reporting by Greta Rosen Fondahn)
 ((Greta.RosenFondahn@thomsonreuters.com))