Tialis Essential IT (TIA)

Sector:

IT Services

Index:

FTSE AIM All-Share

 62.50p
   
  • Change Today:
      0.000p
  • 52 Week High: 63.50
  • 52 Week Low: 41.00
  • Currency: UK Pounds
  • Shares Issued: 24.22m
  • Volume: 1,511
  • Market Cap: £15.14m

IDE Group significantly reduces losses following cost cutting efforts

By Iain Gilbert

Date: Monday 11 Mar 2019

LONDON (ShareCast) - (Sharecast News) - IT services provider IDE Group cut costs during its last financial year, resulting in an improved performance in its second half.
IDE made £7.2m worth of annualised staff cost reductions in 2018, with further reductions identified since the year-end bringing the total to £7.8m, and various other operational cost savings, including a reduction in costs associated to software licensing and property.

The AIM-listed outfit also reached a settlement in relation to an outsourced service contract which will result in a further saving of around £3m over the next three years.

As a result, the provision made at the time of IDE's interim results has been reversed, leading it to expect a "significantly reduced loss at adjusted EBITDA level for the full year."

Elsewhere, IDE said it had made progress in relation to its cost base and saw several of its material customers renew a total of £3.6m of contracts towards the end of the year, some on a multi-year basis.

As of 1030 GMT, IDE shares had shot up 20.37% to 1.62p.

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TIA Market Data

Currency UK Pounds
Share Price 62.50p
Change Today 0.000p
% Change 0.00 %
52 Week High 63.50
52 Week Low 41.00
Volume 1,511
Shares Issued 24.22m
Market Cap £15.14m

TIA Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
42.04% below the market average42.04% below the market average42.04% below the market average42.04% below the market average42.04% below the market average
21.43% above the sector average21.43% above the sector average21.43% above the sector average21.43% above the sector average21.43% above the sector average
Price Trend
33.14% above the market average33.14% above the market average33.14% above the market average33.14% above the market average33.14% above the market average
21.28% above the sector average21.28% above the sector average21.28% above the sector average21.28% above the sector average21.28% above the sector average
Income Not Available
Growth
36.03% below the market average36.03% below the market average36.03% below the market average36.03% below the market average36.03% below the market average
38.64% below the sector average38.64% below the sector average38.64% below the sector average38.64% below the sector average38.64% below the sector average

TIA Dividends

  Latest Previous
  Interim Final
Ex-Div n/a 04-Jun-14
Paid n/a 04-Jul-14
Amount 0.000p 3.00p

Trades for 28-Mar-2024

Time Volume / Share Price
15:09 500 @ 63.25p
10:44 11 @ 63.50p
08:16 500 @ 60.00p
08:15 500 @ 60.00p

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