CyanConnode Holdings PLC - Cambridge, England-based narrowband radio frequency mesh networks provider - Says revenue in financial year that ended March 31 shows "substantial growth" on year before and is broadly in line with market expectations, though CyanConnode notes most of its revenue is in rupees and dollars, so is subject to currency volatility in sterling terms. Revenue in financial 2022 was GBP9.6 million. Says revenue in the second half of the recent year is "significantly greater" than the GBP5.5 million in the second half of financial 2022. Cash on March 31 is GBP4.1 million, up from GBP2.4 million a year before. Will release full annual results "in due course".
"The positive momentum observed during the second half of the year, particularly in the final quarter, has carried over into the new financial year, predominantly in the Indian market. I am pleased to report that our revenue for Q1 FY24 already surpasses H1 FY23, as we continue to fulfil our order book," says Executive Chair John Cronin.
Current stock price: 14.24 pence, up 3.6% in London on Thursday afternoon
12-month change: up 14%
By Tom Waite, Alliance News editor
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Cyanconnode (CYAN)