- Release Date: 09/03/15 08:30
- Summary: FORECAST: SKO: Serko Trading Update for March 2015 Year
- Price Sensitive: No
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SKO 09/03/2015 08:30 FORECAST PRICE SENSITIVE REL: 0830 HRS Serko Limited FORECAST: SKO: Serko Trading Update for March 2015 Year Market Release 9 March 2015 Serko Trading Update for March 2015 Year Serko (NZX: SKO) advises that it expects revenue for the year to 31 March 2015 to be 4-6% lower than the $11.002 million forecast in the company's prospectus issued in May 2014. The revised forecast represents a 53 - 57% increase in revenue compared to the 2014 year. This shortfall is primarily attributable to the timing of billable software development, Serko Incharge and the delayed launch of Serko Mobile. The timing of a small proportion of billable services revenue from customer-funded software customisation has shifted into the 2016 financial year but is otherwise performing in line with expectations. Serko's online expense management solution, Serko Incharge is expected to fall slightly short of forecast revenue as a result of client procurement delays. Serko Online (SOL), the company's primary travel booking product, is performing in line with expectations and is expected to meet the PFI forecast for FY15. The full year operating loss is anticipated to be in line with PFI although the revenue shortfall will result in a slightly lower closing cash balance at 31 March 2015 compared to PFI. Serko's outlook for FY16 is that revenue for the six months to September 2015 is likely to be lower than the $8.279 million PFI forecast by approximately 8%, half of which is due to the impact of exchange rate movements (calculated at NZ$1 = AU$0.97) and the balance is due to the delayed launch of Serko Mobile. Serko will release its result for the 12 months to March 2015 on or about 22 May. ENDS For investor relations queries please contact: Darrin Grafton Chief Executive Officer 021 666 339 Tim Bluett Chief Financial Officer 027 655 4461 [email protected] About Serko Serko is Australasia's leading online travel booking and expense management company for businesses and is listed on the New Zealand Stock Exchange Main Board (SKO.NZ). With its HQ in Auckland New Zealand, and with offices in Sydney Australia, Xi'an City China and Gurgaon, India, Serko employs more than 130 people worldwide. Serko Online is an integrated Online Booking Tool used by administrators and travellers to book flights, accommodation and car hire from the broadest possible set of travel providers. The OBT ensures that travel bookings comply with corporate travel management policy without limiting the users choice of travel provider. Visit www.serko.com for more information End CA:00261564 For:SKO Type:FORECAST Time:2015-03-09 08:30:01
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- Ann: FORECAST: SKO: Serko Trading Update for March 2015 Year
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$3.20 |
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0.060(1.91%) |
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$3.14 | $3.20 | $3.14 | $118.3K | 37.29K |
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0 | 4622 | $3.17 |
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