Netcompany shares up after 60% jump in Q1 revenue

Netcompany A/S

05/05/2022 08:58

** Shares in Netcompany  NETCG.CO  rise 2.5% after the
Danish IT services provider reported a 60% jump in Q1 sales
    ** Q1 revenue increases to DKK 1.37 billion ($195.03
million), while adjusted EBITDA rises 10% to DKK 259.4 million
 urn:newsml:reuters.com:*:nASM000AER
    ** "Netcompany delivered acceptable Q1 results where the top
line came in a bit better than expected," says Jyske Bank
    ** Citi says the company's results were mixed, with revenue
around 1% ahead, while adj. EBITDA was around 1% below consensus
    ** Citi adds the cash flow during the quarter was soft,
weighed down by adverse working capital evolution at Intrasoft 
    ** The group maintains outlook for 2022 
    ** The stock, down 41% YTD, is on track for its best day in
a month
    ** Out of nine analysts that cover Netcompany, eight rate
the stock "strong buy"/"buy" and one "hold" 

($1 = 7.0245 Danish crowns)

 (Reporting by Agnieszka Gosciak)
 ((agnieszka.gosciak@thomsonreuters.com))