Cambridge Cognition turns in 'strong financial performance' in H1
By Iain Gilbert
Date: Monday 01 Nov 2021
(Sharecast News) - Software firm Cambridge Cognition said on Tuesday that it had put on a "strong financial performance" in the six months ended 30 June, with both revenue and sales growth during the period.
Cambridge Cognition said sales orders were up 74% at £8.6m, while revenues grew 50% to £4.5m, swinging the group from 2020's first-half underlying loss of £300,000 to underlying earnings of £200,000.
The AIM-listed firm also pointed to an increase in its contracted order backlog of 36% year-on-year to £15.2m.
Cambridge Cognition added that its outlook remained "positive", with the company remaining on track to be profitable in 2021.
"The company has an attractive forward pipeline of opportunities, although, at this time, without the rare, one-off opportunities highlighted in the previous two half-year periods," said the firm.
"With increasing investment in commercial activities and continued product development, the company is well positioned for further year-on-year revenue growth."
As of 1210 BST, Cambridge Cognition shares were up 0.44% at 166.23p.
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