Arcontech Group Shares Fall After Flat to Lower FY 2022 Profit Expectations

 Arcontech Group Shares Fall After Flat to Lower FY 2022 Profit Expectations

By Anthony O. Goriainoff

Shares in Arcontech Group PLC fell on Wednesday after it said that it expects profit for fiscal 2022 to be flat or lower on year due to the effect of the pandemic on net new sales in fiscal 2021 and that pretax profit and revenue for fiscal 2021 were flat on the year prior.

Shares at 0715 GMT were down 23 pence, or 14%, at 143.50 pence.

The AIM-listed supplier of financial market data products and services said that any pick up in revenue won’t be fully reflected in its results until fiscal 2023 and that as the future for its market remained uncertain it would be some time before it returns to its previous level of activity.

For the year ended June 30 pretax profit was 1.0 million pounds ($1.4 million), flat compared with fiscal 2020, the company said.

Revenue was GBP3 million, also flat on the year prior.

The board declared a final dividend of 2.75 pence a share, compared with 2.5…

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