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Prices & Quotes - UK Markets - Watchstone Group (WTG)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
60.00p
Change Today:
0.000p
Market Cap:
27.49m
Sector:
Software & Computer Services

Watchstone revenues slide as 'challenging' conditions persist

By Iain Gilbert

Date: Thursday 31 Jan 2019

LONDON (ShareCast) - (Sharecast News) - Technology solutions outfit Watchstone saw revenues fall back and profits stay flat in its last trading year as a result of "challenging" trading conditions and adverse movements in the Canadian dollar.
Watchstone, the former Quindell, revenues contracted 16% to 37.7m in the year ended 31 December - mostly driven by a 46% decline in sales brought in over at the firm's young driver insurance business, Ingenie.

The AIM-listed firm said trading conditions had "continued to further impact retail volumes" at Ingenie, but noted that it a number of initiatives had been undertaken to address issues within the business and added that further structural changes set for 2019 were anticipated to revive the retail competitiveness of its offering.

The larger Healthcare Services arm, consists of our Canadian clinics business ptHealth and clinic software and managed services business InnoCare, saw sales dip to 30.0m from 30.5m a year ago.

Central costs, which were rationalised at the end of 2017, resulted in "materially lower" expenditure during 2018.

"Profitability is expected to be broadly flat relative to 2017 however a significant restructuring of the clinic business has been completed in the year which more closely aligns costs to revenues and should create more optimal conditions for profitable growth."

As of 1115 GMT, Watchstone shares, having dropped almost 50% over the past two years, fell another 5% to 90.43p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

WTG Market Data

Currency UK Pounds
Price 60.00p
Change Today 0.000p
52 Week High 180.75p
52 Week Low 48.00p
Volume 19,382
Shares Issued 45.82m
Market Cap 27.49m

Performance Indicators

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WTG Dividends

  Latest Previous
  Final Final
Ex-Div n/a 09-Apr-14
Paid n/a 02-May-14
Amount 0.000p 1.50p

Trades for 27-Nov-2020

Time Volume / Share Price
13:31 2,000 @ 58.60p
13:26 40 @ 62.00p
10:16 159 @ 61.24p
10:01 17,000 @ 58.27p
08:00 13 @ 58.60p

WTG Key Personnel