UK's Tialis rises as new contracts seen adding to earnings

Tialis Essential IT

20/12/2022 10:24

** Shares of British IT services provider Tialis Essential
IT PLC  TIA.L  up ~6% at 66p
    ** Co to buy partner contracts from Daisy group's Allvotec
for an expected consideration of 2.1 mln pounds ($2.5 mln),
adding revenue of about 5.7 mln pounds in FY23
    ** Co says adding around 50% more to the revenues next year
and three new channel partners will boost co's 2023 profit    
    ** Co sees core profit of about 1.5 mln pounds from these
contracts over the 12-month period to Dec 31, 2022
    ** Shares have fallen ~47.2% so far this year, as of last
close
($1 = 0.8212 pounds)
 (Reporting by Biru Pandey in Bengaluru)
 ((Biru.pandey@thomsonreuters.com))