Sharechat Logo

Gentrack's 'significant progress' towards new contracts will contribute to FY19 results

Friday 29th June 2018

Text too small?

Gentrack Group, an Auckland-based software developer for utilities and airports, said it has made “significant progress towards several new customer wins” in the US and Australia that will contribute to its fiscal 2019 results.  

These are not expected to have a material impact on its fiscal 2018 earnings, with the company forecasting earnings before interest, tax, depreciation and amortisation of between $30 million and $32 million, though “they will contribute to FY19 results and position Gentrack well for further wins in the US airport and Australian utility markets,” the company said in a statement. 

Gentrack said it has been awarded a contract for its BlipTrack guest predictability solution at the Port Authority of New York and New Jersey, which operates Newark, La Guardia, JFK and Stewart airports in the US. The airport operator is already a major customer for its Airport 20/20 software, Gentrack added.

It has also been awarded preferred vendor status and is entering into final contract negotiations with Orlando International Airport, and has been appointed as the preferred supplier for a "significant and growing" Australian utility, it said. 

Gentrack said its acquisition of UK-based Evolve Analytics, announced last week, is on track for completion today. The latest purchase, for an enterprise value of about $44 million, follows last year’s takeovers of UK billing and customer information systems firm Junifer Systems and European airport software developers Blip Systems and CA Plus.

Its shares slipped 0.1 percent to $7.22 in early trading today. The stock has soared more than 51 percent in the past year, outperforming an 18 percent advance in the country’s S&P/NZX 50 index over the same period. 

(BusinessDesk)

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

MARKET CLOSE: NZ shares fall as investor uncertainty weighs on exporters; F&P Health, A2 drop
NZ dollar drops below US68c on plan to up bank capital
Noel Leeming fined $200,000 for misleading consumers
Big four banks face stiffer capital requirements from RBNZ
Infratil signals A$50m investment in Canberra Data Centres
Govt provides $2.5 mln to develop Opotiki aquaculture
Labour co-ordinator role may alleviate kiwifruit labour shortage
NZ manufacturing activity chugs along in November
Australia's GWA lobs in $118M bid for Methven
Govt leaves door open for higher emissions price cap

IRG See IRG research reports