Gentrack struggles on as earnings halve

Thu, 26 Nov 2020

Gentrack has warned 2021 earnings may only break-even after earnings halved this year as its airport business suffered.Veovo, the firm’s airport management platform, saw revenue drop 20 percent to $18.7 million in the 12 months ended Sept. 30 while the utility division held up better, falling 7 percent to $81.8 million. The reduced revenue resulted in group earnings before interest, tax, depreciation, and amortisation of $12.1 million, less than half the $24.8 million in the 2019 financial year.Newly appointed chief executive Gary M...

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