On track for a turnaround
Gentrack (ASX: GTK) entered 2020 with a faltering UK division, declining margins and three profit downgrades in the previous quarter. It all went downhill from there.
The UK utility market is the billing software maker’s biggest segment, and also its best opportunity for growth. Representing a bit over half of total revenue, the division has had three years of stagnant sales due to 2019’s introduction of new laws that limit how much electricity retailers can charge customers. This triggered a domino of declining revenues, falling margins and a slowdown in new project spending.
There are signs a turning point might be in sight. The company has announced a strong result for the six
