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Yu forecasts 'significant' earnings beat

By BFN News | 09:13 AM | Tuesday 26 January, 2021


Utility services provider to small businesses Yu said it expected its earnings to beat market expectations, even as its revenue fell. Adjusted earnings before interest, tax, depreciation and amortisation (EBTIDA) for the year through December was expected to be 'significantly ahead' of market forecasts, the company said. Revenue was expected to 'slightly' exceed market expectations at 'over £100 million', compared to 2019's revenue of £111.6 million. Adjusted EBITDA excluded share-based payments and unrealised gains or losses on derivative contracts and, in the 2019 financial year, certain non-recurring items. Yu also said that its expectations for 2021 were now ahead of previous levels. 'Despite the inevitable challenge of the pandemic, we've successfully and seamlessly adjusted our business to manage the impact on our customers without detriment to our growth strategy and operational performance,' chief executive Bobby Kalar said. At 9:13am: (LON:YU.) Yu Group Plc share price was 0p at 112.5p Story provided by StockMarketWire.com

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