Brief: QPR Software Issues Profit Warning

QPR Software Oyj

07/09/2022 14:09

Sept 7 (Reuters) - QPR Software Plc  QPR1V.HE :
    * REG-PROFIT WARNING: THE PROFITABILITY CHALLENGES OF OLD
SOFTWARE
DELIVERY PROJECTS AND THE DECREASE IN NEW SALES OF SOFTWARE
LICENSES WEAKEN THE OUTLOOK FOR THE SECOND HALF OF THE YEAR –
QPR SOFTWARE PLC LOWERS ITS FINANCIAL GUIDANCE FOR 2022
    * EXPECTS REVENUE AND OPERATING PROFIT TO BE SUBSTANTIALLY
BELOW
REPORTED FIGURES FOR 2021
    * SAAS 2022 REVENUE TO GROW BY 25-35% COMPARED TO 2021
    * INCREASED INSTABILITY OF OPERATING ENVIRONMENT IN EUROPE
DUE TO
UKRAINE'S WAR, HIGH INFLATION, AND CONSEQUENCES OF COVID-19
PANDEMIC CREATE UNCERTAINTY IN ACQUIRING NEW CUSTOMERS
    * PREVIOUS GUIDANCE: 2022 TURNOVER TO INCREASE IN 2022
(2021:
9,140 THOUSAND EUROS) SUPPORTED BY GROWTH OF SAAS TURNOVER
    * COMPANY WILL INITIATE MEASURES TO IMPROVE PROFITABILITY
AND WILL
INFORM ABOUT RELATED ACTIONS LATER
    * SAAS GROWTH, WHICH IS AT CORE OF COMPANY'S STRATEGY, IS
NOT
SUFFICIENT AT THIS STAGE TO COMPENSATE FOR DECLINING REVENUE

Source text for Eikon:  ID:nGNE9W9HmP 
Further company coverage:  QPR1V.HE 

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