Connxion (ASX:CXN) raises FY10 revenue forecast
Data and transaction services company Connxion Ventures (ASX:CVN) has lifted its FY10 revenue forecast by 14.5% to $12.6m
Data and transaction services company Connxion Ventures (ASX:CVN) has lifted its FY10 revenue forecast by 14.5% to $12.6m
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Increased marketing and content investment for Quickflix (ASX:QFX) led to a cash outflow before financing
Shares in the printing materials provider have fallen 13.8% today
But its loss is expected to have widened in FY10, reflecting the costs of recent acquisitions
The operator is now expecting a 22% increase in ebitda to $28m
The company said turnover was up 29% over FY09 despite a significant drop in ticket prices
Revenue is expected to have doubled in the second half
Expects profit to have increased by 22% to around $10m
But revenue is expected to be up 182% to $11m, and ebitda is expected to be positive in FY11
Contract delays likely to lead to lower-than-expected result
Chairman Ellis Bugg said the expected result proves the company turnaround has been successful
But has $170m worth of work in hand and should be ready to resume dividend payouts this calendar year