QT Group jumps to 2-1/2 year high on 'very positive' growth prospects

Qt Oyj

16/02/2024 08:39

** Shares in Finnish software provider QT Group  QTCOM.HE 
jump 17% after a solid Q4 print and upbeat comments on growth
prospects
    ** Inderes says the guidance was expected in terms of
figures, but the company's comments regarding the growth
prospects were very positive
    ** "Outlook was surprisingly positive throughout the product
portfolio," the brokerage says, adding that the conditions for
growth in 2024 are on a more solid basis than last year
    ** The group posted Q4 EBIT of EUR 23.9 million ($25.71
million) and guided for 20-30% increase in net sales in 2024
with an operating profit margin of 25-35%
    ** Q4 numbers were in line with preliminary data, but
operational profitability exceeded the level indicated by it,
says Inderes
    ** If gains hold, the stock is looking at its biggest
single-day rise in 2-1/2 years, and sits comfortably at the top
of Helsinki blue-chip index  .OMXH25 


($1 = 0.9295 euros)

 (Reporting by Jagoda Darlak)
 ((Jagoda.Darlak@thomsonreuters.com))