Travel technology company Serko ‘s revenue for the NZ financial year ending 31 March will be 4-6% lower than the NZD11m originally forecast due to product and software delays.
“This shortfall is primarily attributable to the timing of billable software development, Serko Incharge and the delayed launch of Serko Mobile,” the company said.
Serko also says that revenue for the six months to September 2015 is likely to be 8% less than forecast due to a strong NZ dollar (Australia is by far its biggest market) and the late launch of Serko Mobile.
The company listed on the New Zealand Stock Exchange last May. Serko It makes and markets corporate travel management software.
The announcement sent its shares down almost 5% to NZD1, still above its listing price of 95 cents.