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
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.
Interim chief executive Sean Corkerywill attempt to soothe investors at the meeting with more details on its prospects following the abrupt termination of a deal with a major airline client. The company last month scrapped its previous guidance of return to profitability in 2020 as a result of widening losses.
