Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Kin and Carta dialling back expectations amidst market headwinds
Kin and Carta LON:KCT, the global digital transformation consultancy, published a trading update this morning. Following interim results which were published around 10 weeks ago, management note a slowing of commitment from enterprise clients to large work programs, with other contracts starting later than had been planned. As a result, full year revenues are expected to be flat to +2%, although operating margins are improving. The order book has also been growing over the last few months, with significant wins being seen in the public sector and financial services.
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#2. Pelatro 2022 earnings disappoint but optimism over FY23
AIM listed marketing software firm Pelatro LON:PTRO has issued full year results for the period to 31st December today. Revenues are down by around 30%, whilst the adjusted EBITDA has fallen from $2.8m to $0.6m. Despite the poor headline numbers, management are optimistic over the outlook, citing a very strong order book, solid growth in annual recurring revenues and a diversification away from the company’s legacy telco business.
#3. Tekcapital full year numbers show NAV down 20%
Tekcapital LON:TEK has its full year results out today, noting a 20% decline in per share NAV and a portfolio devaluation of around 10%. There’s quite a bit of detail here in relation to each of the portfolio holdings too, but the crucial point is the stock trades at a significant discount to the assumed NAV.
