Gentrack Experiences Tough Market Conditions in Key Utilities Market

  • Jan 15, 2020 AEDT
  • Team Kalkine

Gentrack Group Limited (ASX: GTK), provider of essential software to essential services, has advised that it is experiencing difficult market conditions in its key utilities market.

  • Tough market conditions are impacting the company’s sales pipeline more than expected;
  • An important UK utility customer, ON has signalled that it plans to suspend deployment of its new Gentrack billing platform;
  • The company is currently evaluating the financial implication of both the E.ON’s decision and adverse market condition.

At AEST 12:55PM, the stock was trading at $2.770 per share, down by 25.737% from its previous close.

 

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