No MBO for rich Trintech

CASH-rich Trintech, which reported revenues for the third quarter broadly in line with expectations, is unlikely to follow Conduit and Riverdeep down the management buy-out route (MBO), brokers Dolmen speculated yesterday.

With a market capitalisation of close to $27m and cash reserves of 48.3m, Trintech reported revenues increased by 5% sequentially to $11.4 million. However, year-on-year the revenues at the electronic payments infrastructure company were down from the $17.4m earned in the third quarter of last year.

Commenting on the results, Dolmen analyst Pat Duggan the group attributes the decrease in revenue over the longer period to the current state of the global economy.