RNS22 Jul 2020 08:49
Key Financial Highlights
· Total revenue down 2% in reported currency and up 2% in constant currency.
· Airsight revenue standalone 1 July - 30 June 2020 grew 68% (74% in constant currency)
· Total expenses decreased by 48% (47% in constant currency).
· Cash balance at 30/06/20 was £1,584,891.
Andrew Pearson, CEO of Maestrano, commented:
Growth already showing from Airsight :)
I think the next update will look better still. More news flow coming on contracts this year too.
"Following our March Quarter update (announced 20 April 2020) it is very encouraging to see the continuing strong growth in the core Airsight business units, Corridor and Nextcore. Airsight had a strong 4 months pre-merger (1/7/19 to 31/10/19) and when this is swapped for Maestrano revenue in the same period, we see the true trend in the business, with 74% year on year growth in constant currency and only 28% increase in expenses. We are confident of continuing growth in FY