Telit Communications PLC (TCM) Announced Year-end Trading Update

 

  • Total Group revenues are anticipated to be $391 million, including two months’ contribution from the automotive business. This reflects a decrease of 8.54% from the 2018 revenue, including full-year revenue from the automotive business.
  • IoT Cloud and connectivity revenues are anticipated to be $41 million, an increase of 20.2%. This was driven by a robust performance of both the platforms and the connectivity businesses.
  • The company profit in cash is anticipated to be in line with the Board’s anticipations.
  • On 31st December 2019, the group’s net cash is anticipated to be $48 million.
  • On 14th January 2020, at the time of writing, GMT 03:50 PM, TCM shares were trading at GBX 160.60, down by 7.40 points or 4.40% against the previous day closing price