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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 Group slips as loss widens

By Duncan Ferris

Date: Thursday 09 May 2019

LONDON (ShareCast) - (Sharecast News) - Watchstone Group on Thursday reported a wider annual loss as revenues fell as its Ingenie insurance business continued to struggle.
The insurance, technology and healthcare group recorded a total loss before tax of 20.1m for 2018, compared to red ink of 5.0m for the year before, after revenue fell by 15% to 38.0m and administrative expenses jumped by 35% to 37.4m.

Ingenie, an insurance broker focused on helping young drivers use the road safely and affordably, saw its revenue fall from 14.4m to 7.8m, though the AIM traded company insisted that the business is starting to "see shoots of recovery" after the implementation of a turnaround plan.

However, the business' 2019 first quarter revenues continued to lag behind those seen last year and visible results were only expected later in the year.

Meanwhile, the company's Healthcare Services businesses ptHealth and Innocare performed "satisfactorily" with revenue, excluding the impact of foreign exchange, increasing by 2%.

Watchstone also remains in the midst of a legal battle with Slater & Gordon over the 2015 sale of its Quindell professional services division, with the Aussie law firm seeking to recoup the 637m it bought the division for in a trial due to start in October.

Stefan Borson, chief executive of Watchstone, said: "Our position remains that Slater & Gordon's allegations of deceit and the associated breach of warranty claim are wholly without merit and should never have been advanced. Our preparation for trial is well advanced and it has been necessary to invest considerable financial resource to ensure we are fully prepared."

Watchstone Group's shares were down 6.87% at 83.63p at 1247 BST.

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