Friday November 22, 2019

Troubled Datalex to detail cost-cutting at delayed AGM

The company's largest shareholder Dermot Desmond to provide a further €5 million to keep the company afloat

By Ian Guider

Markets Editor

8th September, 2019

Chief executive claims 'board was misled'

Datalex, the travel industry software company, is expected to issue more details on a round of cost-cutting at its much delayed annual general meeting later this month.

The company is also set to issue new profit guidance after a torrid year that has seen it encounter corporate issues, the departure of its auditors and the prospect of an investigation by state authorities.

Datalex is planning to shave a further $13 million from costs in 2020...

Subscribe from just €1 per month!

or Log in to continue reading

Exclusive offers:

All Digital Access + eReader



Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.



€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.




90 Day Pass

You can cancel any time.

Related Stories

Last week, in a much-anticipated announcement, the FT said that Lionel Barber would step down as editor in January after 14 years

Vincent Boland | 5 days ago

Ageism is not okay, whether it’s directed at a younger generation or an older one, as an ‘Ok boomer’-spouting Generation Z should know

Nadine O’Regan | 5 days ago

It’s been a turbulent year for the advertising market, but it’s here in the fourth quarter that the real profits are made

Willie O'Reilly | 5 days ago