Brief: Otello Corporation Updates Financial Outlook For 2020

Otello ASA

21/12/2020 07:08

Dec 21 (Reuters) - Otello Corporation ASA  OTELLO.OL :
    * UPDATED FINANCIAL OUTLOOK FOR 2020 AND TRADING UPDATE
    * GROSS MARGINS QUARTER TO DATE ARE SLIGHTLY ABOVE
EXPECTATIONS
AND WHAT WE SAW IN 3Q20
    * ABOVE-EXPECTED RESULTS COME FROM BRAND PART OF ADCOLONY
WHICH
CONTRIBUTES AROUND 80% OF REVENUE AND IS ACROSS ALL GEOGRAPHIES
    * BEMOBI HAVE IN 4Q20 DELIVERED IN LINE WITH MANAGEMENT'S
EXPECTATIONS
    * WE NOW EXPECT ADCOLONY TO DELIVER REVENUE GROWTH OF AROUND
30%
(VERSUS 10-15% PRIOR) IN 4Q20 VERSUS 4Q19

Source text for Eikon:  ID:nObiR2wrDa 
Further company coverage:  OTELLO.OL 

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