Serko jumps up as NZ market edges down

The S&P/NZX 50 index fell 28.8 points, or 0.24%, to 11,948.72. Turnover was a light $61.6 million.

Serko’s share price jumped over 11% this morning on the news that it had seen stronger-than-expected revenue performance.

The stock ended the day up 8.7% to $2.25. The travel software provider upgraded its revenue guidance for the current financial year thanks to the solid trading results through the traditionally season-low period from late December through to mid-January.

Peter McIntyre from Craigs Investment Partners said Serko’s share jump was positive for the company but its share price was still down almost 60% from this time a year ago.