Aurrigo Share News (AURR)

(Sharecast News) - Aurrigo International said in an update on Thursday that it has made a solid start to 2025, with progress across both its autonomous and automotive divisions, and confirmed that full-year results were expected to be in line with board expectations.

In a statement released ahead of its annual general meeting, the AIM-listed transport technology firm highlighted a recently signed three-year strategic partnership with Swissport, the world's largest provider of airport ground services and cargo handling, as a key milestone that opens up significant commercial opportunities.

The company, which was holding its annual general meeting, also confirmed that its Auto-Cargo vehicle, developed in collaboration with UPS, was expected to be delivered to East Midlands Airport early in the second half of the year, where it would undergo initial testing.

Ongoing projects at major airports including Schiphol, Singapore Changi, and Cincinnati were said to be progressing in line with plans.

Aurrigo said it remained well funded following its December and January equity raise, with proceeds supporting the continued development of its autonomous vehicle portfolio in response to partner feedback.

The company said the aviation sector was continuing to present a supportive environment, as airports looked to autonomous solutions to boost operational efficiency and reduce emissions.

"The company has made good progress so far this year and we have continued to add to our blue-chip partner roster with the agreement signed with Swissport in May," said chairman Andrew Cornish.

"As trials continue with partners around the world, understanding of what our technology is capable of and its benefits are being demonstrated to a large, engaged audience."

Aurrigo's automotive division was performing in line with expectations, underpinned by a strong forward orderbook, despite wider market volatility.

As previously guided, revenue was expected to be weighted toward the second half of the year due to the timing of ongoing autonomous tender processes.

Separately, the company announced that Independent non-executive director Peter Whiting had informed the board of his intention not to stand for re-election at the 2026 AGM.

He would remain in post over the coming year to support succession planning and will offer himself for re-election at Thursday's AGM.

"Our continued progress is thanks to the strength of the Aurrigo team, and we were thrilled to see this recognised in the recent award of an MBE to our CEO, David Keene, in the King's Birthday Honours for his contribution to the decarbonisation of airports," Cornish added.

At 1155 BST, shares in Aurrigo International were up 1.79% at 96.7p.

Reporting by Josh White for Sharecast.com.