viewVeltyco Group PLC

Veltyco shares crash 56% after it sounds the earnings alarm

The online gaming specialist also gave a bleak assessment of its prospects

Veltyco Group PLC -

Shares in the online gaming specialist Veltyco Group PLC (LON:VLTY) crashed 56% after it sounded the earnings alarm and provided a bleak assessment of its prospects.

In a short update, it said income from its affiliate business is currently “minimal and below management expectations”, meaning the firm remains loss-making.

Revealing the scale of the challenge it faces, it explained it is reliant on managing its creditors, which continue to be “materially in excess” of its current cash resources.

Not surprisingly, Veltyco is seeking an injection of funds. However, it cautioned on its ability to continue trading as a going concern if the current trading headwinds and the lack of working capital persisted.

Quick facts: Veltyco Group PLC

Price: - -

Market: AIM
Market Cap: -

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


Condor Gold adds second drill rig as they look to ramp up drill program at...

Condor Gold (AIM: CNR- TSE: COG) CEO Mark Child joined Steve Darling from Proactive with news the company has added a second drill rig on their La India Project, in Nicaragua. Child telling Proactive, this rig will help speed up infill drilling on their current 4000-metre program. The...

8 hours, 46 minutes ago

2 min read