Rising Tech Wages Deepen Losses for AIM Newcomer Windward
(Bloomberg) -- Windward Ltd, an Israeli maritime AI company providing real-time information about shipping at sea, is expecting rising wages in the technology sector to result in bigger losses for the year ended in 2021.
The company, which listed on London's junior AIM market in December last year, said its earnings before interest, taxes, depreciation and amortization loss for 2021 will be “slightly higher than expectations” and that salary inflation will continue to be a factor in the current year. Windward expects to report its final 2021 results near the end of March.
Shares fell as much as 2.8%, but trade above the debut price.
From banking to technology, companies have been facing higher wages and difficulties recruiting staff. Apple Inc. unveiled record bonuses at the end of last year, as fierce competition among the silicon valley giants led the company to splurge in an effort to retain talent.
©2022 Bloomberg L.P.
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