Servelec cuts guidance

Austerity measures still dragging on software supplier
Thursday 14 Sep 2017 Author: Steven Frazer

Enterprise software supplier Servelec (SERV) has had to cut back its growth ambitions thanks to end user investment delays in parts of the automation and healthcare industries.

The company’s broker has Investec cut revenue and earnings before interest, tax and amortisation (EBITA) forecasts by 5% and 11% respectively, and the shares have sunk around 15% to 245p.

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