CyanConnode revenues set to 'significantly exceed' prior year tally
By Iain Gilbert
Date: Thursday 11 Apr 2019
(Sharecast News) - Radiofrequency networks specialist CyanConnode expects its full-year revenues to "significantly exceed" their prior year mark.
CyanConnode expects sales for the year ended 31 December to reach approximately £4.7m, up 400% year-on-year, with India and the Nordics being the main contributors to organic growth.
Operating losses were expected to show a "significant improvement" over 2017.
The AIM-listed outfit also told investors that its performance in the first three months in 2019 had been strong, with the group "performing well" and trading in line with market expectations.
Executive chairman John Cronin said: "We are pleased to report that trading for the first quarter of 2019 has met CyanConnode's market expectations.
"In addition, the Board believes it has sufficient funds to execute its business plan for 2019 and reach cashflow breakeven. CyanConnode is expecting a positive second half of 2019 in its key markets including India, China and the rest of world for its pioneering smart city technology solutions."
CyanConnode will post its full-year results on 8 May.
As of 0905 BST, CyanConnode shares had ticked up 4.39% to 5.95p.
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