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  5. Innovation Group says contract complications will impact full-year results

Pin to quick picksTeam Internet Share News (TIG)

Team Internet Information

Share Price Information for Team Internet (TIG)

London Stock Exchange
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Share Price: 179.80
Bid: 180.00
Ask: 181.40
Change: -6.80 (-3.64%)
Spread: 1.40 (0.778%)
Open: 185.00
High: 187.80
Low: 179.80
Prev. Close: 186.60
TIG Live PriceLast checked at -

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Innovation Group says contract complications will impact full-year results

Wed, 01st Apr 2015 14:38

Innovation Group's shares sank on Wednesday after the company admitted its full-year results will be impacted by slippage in a number of software contracts.However, it expects its profits to be in line with market forecasts.The software provider said a decline in contract prices and weather conditions impacting claims volumes in its UK property business will "largely" offset the positive impact in profits expected from the sale of its stake in a joint venture with Symbility.The divestment to Symbility Solutions netted it £4m, but the group will continue to use the software for the next five years as part of its property service offerings.Chief executive Andy Roberts said: "When Symbility first approached us to terminate our VAR relationship, we were very keen to see if we could realign the relationship towards our strategy as a service provider."This deal allows us to do just that whilst at the same time be fully reimbursed for the future value of the client contracts that we have previously secured: a true win-win approach for us, Symbility and our mutual clients."The company also announced it had bagged a new contract with a European motor brand. The contract, worth £3.6m, was won via a competitive tender and is expected to be the first of a number of software contracts Innovation Group hopes to win over the coming quarter.Investec analysts maintained their 'buy' recommendation thanks to "gearing potential as sotfware contracts close" and strong basic points.Shares in Innovation Group fell 20.13% to 22.56p on Wednesday at 14:50.
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18 Mar 2014 15:54

UK AGM, EGM Calendar - Week Ahead

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17 Mar 2014 12:55

Innovation Group Appoints President Of Worldwide Insurer Business

LONDON (Alliance News) - Software and outsouring services provider The Innovation Group PLC said Monday that it had appointed Paul Nichols as President of its Worldwide Insurer business. The newly established role will bring focus to the company's global technology business, Innovation said

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17 Mar 2014 08:31

Monday broker round-up UPDATE

Admiral Group: Credit Suisse raises target price from 1340p to 1425p and keeps a neutral rating. African Barrick Gold: Canaccord Genuity ups target price from 315p to 330p and maintains a buy recommendation. Amara Mining: Canaccord Genuity moves target price from 25p to 33p and reiterates its buy

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14 Mar 2014 11:01

DIRECTOR DEALINGS: Innovation Group Executives Acquire New Shares

LONDON (Alliance News) - Innovation Group PLC Friday said a group of executives, including Chief Executive Andrew Roberts, acquired new shares as a result an open offer placing at a price of 32 pence per new share.

Details are as follows.

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13 Mar 2014 08:22

UK MORNING BRIEFING: Shares Open Down As Morrisons Falls 8%

LONDON (Alliance News) - Shares have opened flat to down Thursday following weak economic data from China.

Shares in Wm Morrison Supermarkets are down 8% after reporting a 13% drop in underlying profits for its recent financial year, swung to a pretax loss on huge e

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12 Mar 2014 18:27

Innovation Group Completes Share Placing

LONDON (Alliance News) - The Innovation Group PLC Wednesday said it has received valid acceptances for 87.0 million open offer shares, representing 82.9% of the open offer shares available under the open offer announced last month. On February 21, the company said it planned to raise GBP67

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10 Mar 2014 06:34

UK AGM, EGM Calendar - Week Ahead

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7 Mar 2014 14:55

UK AGM, EGM Calendar - Week Ahead

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21 Feb 2014 10:04

Innovation To Raise GBP67 Million In Share Placing For Acquisitions

LONDON (Alliance News) - Innovation Group PLC Friday said it plans to raise GBP67 million in a placing of 209.4 million new shares at 32 pence each, money it will use to fund the acquisition of LAS Claims Management as well as future opportunities. The software and outsourcing services pro

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18 Feb 2014 10:05

UK BROKER RATINGS: Four Brokers Raise Hammerson Price Target

LONDON (Alliance News) - The following UK shares received analyst recommendations Tuesday morning:
----------
FTSE 100
----------
CITIGROUP CUTS ROLLS-ROYCE TO 'NEUTRAL' ('BUY')
----------
BERENBERG CUTS TATE & LYLE PRICE TARGET TO 775 (900)

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17 Feb 2014 09:49

Innovation Group Confident In Meeting Expectations, Acquires LAS Claims

LONDON (Alliance News) - The Innovation Group PLC Monday said it's on track to meet full year expectations after a strong start to the year, as it also announced a GBP35 million cash deal to buy flood and storms claims management company LAS Claims Management Ltd. Innovation, which provides

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23 Jan 2014 15:11

DIRECTOR DEALINGS: Innovation Non-Executive Buys 13,588 Shares

LONDON (Alliance News) - Innovation Group PLC Thursday said non-executive director Christopher Harrison bought 13,588 shares at a price of 34.69 pence per share. Following this transaction, Harrison holds 170,724 shares. Shares in the insurance company were down 0.7% at 34.50 pence Th

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7 Jan 2014 08:47

Innovation Group Signs Two-Year CIS General Insurance Contract

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4 Dec 2013 09:21

Wednesday broker round-up UPDATE

Afren: FinnCap lowers target price from 170p to 165p and downgrades to hold. Amlin: Espirito Santo upgrades to buy with a target price of 509p. Betfair: Citi raises target price from 1150p to 1225p maintaining a buy recommendation. Brewin Dolphin: Canaccord Genuity increases target price from 285

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2 Dec 2013 08:22

Monday broker round-up UPDATE

Aberdeen Asset Management: Credit Suisse raises target price from 465p to 515p and maintains a neutral rating. Admiral Group: Citi moves target price from 1215p to 1220p and retains a neutral rating. AVEVA Group: Numis upgrades to buy with a target price of 2980p. AZ Electronic Materials: Deutsch

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