Airport solutions company Gentrack Group (ASX:GTK) has shown a 5 per cent increase in revenue to $54.4 million, accompanied by a fall in EBITDA of 19 per cent to $12.8 million over the same period last year.
Increased costs reflect the investment in SaaS solutions.
CA Plus was acquired in May 2017 as an early stage business delivering retail management solutions for airports.
Gentrack have fully written down the value of the CA Plus business by $14.6 million reflecting the disappointing performance of this business
Notwithstanding UK Brexit and electricity price regulation introduced in January 2019, Gentrack recorded a 7 per cent increase in revenue on H1 FY18 in the UK.
Shares in Gentrack Group (ASX:GTK) closed 2.64 per cent lower at $5.16.