Arcontech eyes revenue and profit ahead of expectations

(Alliance News) - Arcontech Group PLC shares rose on Monday, after it said it eyes revenue and profit growth ahead of expectations.

Arcontech is a London-based provider of real-time financial market data and services. Its shares were were up 5.1% at 93.00 pence each in London on Monday morning.

For the year ended June 30, Arcontech expects turnover to be ahead of market expectations by approximately 4%.

It explained that this is as a result of "increased use of product by certain customers".

Arcontech said adjusted pretax profit is expected to be ahead by approximately 20%, as a result of "the aforementioned increased product usage and certain planned staff costs only being incurred at the end of the financial year."

Expectations for the current financial year remain unchanged.

By Sophie Rose, Alliance News senior reporter

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