Adept4 warns on earnings after client terminates contract
Information technology service provider Adept4 has received notice of termination of a customer contract, it announced on Monday.
The AIM-traded company said that in the year ended 30 September, the contract delivered £0.7m of recurring revenue.
As a result, revenue and trading group EBITDA for the year ending 30 September were likely to be below management's expectations, the board warned.
“Based on current information, the company disputes that the contract termination is valid and is therefore considering the legal redress open to it,” Adept4’s directors added.