Keyrus: H1 accounts in red

(CercleFinance.com) - Technology consulting group Keyrus has announced a net loss for the first six months of the year, against the backdrop of a downturn in its business.
NB: cp -12%.

Keyrus reports that its H1 consolidated sales fell to E178.1m, down 5.1% LFL.

The company explains this decline by the timidity of its principals, confronted as it is with current macro-economic tensions and geopolitical uncertainty.

Operating income before non-recurring items fell to E4.5m, compared with E7.9m in H1 2023, resulting in a net loss of E1.7m, compared with a profit of E3m a year ago.

For analysts at All Invest, the "current deterioration in results rules out the possibility of a 2nd takeover bid, with the reference shareholder having every interest in waiting a few months to optimize its price".

Following a recent takeover bid by Eric Cohen - the company's CEO and founder - in collaboration with BNP Paribas, Keyrus is now more than 71% owned by the holding company K Eagle Investment.

In its press release, Keyrus points out that inflation and the economic slowdown, which it considers to be ongoing, are leading it to manage its investments and activities 'with caution'.

Listed in Paris, the share price fell over 11% following these announcements.


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