Fluence (ASX:FLC) signals delay in revenue recognition - Sequoia Direct Pty Ltd

02JanJanuary 2, 2020

Fluence (ASX:FLC) signals delay in revenue recognition

Wastewater treatment company, Fluence Corporation (ASX:FLC) has signalled a delay in the recognition of US$20 million revenue.

Fluence previously announced that it had penned an agreement worth 165 million Euros with the Federal Government of Ivory Coast for the supply of a surface-water treatment plant.

Third party financing for the transaction is being provided through a loan from Israel Discount Bank and the State of Israel.

Fluence says that despite all parties to the finance contract agreeing on its terms, there has been a delay in execution– which may result in a short-term deferral of revenue that was expected to be recognised in 2019.

Shares in Fluence Corporation (ASX:FLC) closed 6.2 per cent higher at $0.43 on Tuesday.

Copyright 2020 – Finance News Network

Source: Finance News Network

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