CyanConnode Holdings PLC Trading Update (5915U)
April 07 2021 - 1:00AM
UK Regulatory
TIDMCYAN
RNS Number : 5915U
CyanConnode Holdings PLC
07 April 2021
7 April 2021
CyanConnode Holdings plc
("CyanConnode" or the "Company")
Trading Update for the financial year ended 31 March 2021
CyanConnode Holdings plc (AIM: CYAN), a world leader in
Narrowband Radio Frequency (RF) Smart Mesh Networks, is pleased to
provide a trading update for the financial year ended 31 March
2021.
Highlights
-- Revenue for the 12-month period to March 2021 was
approximately 2.5 times the 15-months to March 2020 of GBP2.5m,
therefore exceeding market expectation
-- Period end cash and cash equivalents of c. GBP1.5m (March 2020: GBP1.2m)
-- Approximately GBP5.3m cash received from customers during the
12-month period (15-months to March 2020: GBP4.1 million)
-- 481k modules shipped to customers during the 12-month period
ended March 2021 (15-months to March 2020: c. 115k)
Follow the link below to view graph showing cumulative modules
shipped to date:
http://www.rns-pdf.londonstockexchange.com/rns/5915U_1-2021-4-6.pdf
John Cronin, CyanConnode Executive Chairman, commented:
"I'm delighted with the progress made during the financial year
ended 31 March 2021, which has delivered our highest annual revenue
to date, approximately 2.5 times the previous financial period.
With deployments being secured against Letters of Credit or advance
payments, cash collection has significantly improved, and together
with ongoing cost control, our cash position at 31 March 2021 is
higher than at 31 March 2020.
"This has been an extremely challenging year due to the Covid-19
pandemic, nevertheless we have continued to pursue a number of
opportunities which we expect to bear fruit in due course. We also
expect revenues to materially increase during the current financial
year and note market expectations of GBP8.8m of revenue for the
financial year ended 31 March 2022."
"I would also like to thank our shareholders, customers, and
partners for their ongoing support as well as our employees for
their hard work in helping to deliver this achievement."
- Ends -
Enquiries:
CyanConnode Holdings plc Tel: +44 (0) 1223 225 060
John Cronin, Executive Chairman www.cyanconnode.com
Arden Partners plc (Broker and Nomad) Tel: +44 (0) 20 7614
5900
Paul Shackleton / Dan Gee-Summons (Corporate Finance)
Simon Johnson (Corporate Broking)
About CyanConnode
CyanConnode (AIM:CYAN.L), is a world leader in Narrowband Radio
Frequency (RF) Smart Mesh Networks, which are used for machine to
machine (M2M) communication. As well as being self-forming and
self-healing, CyanConnode's RF Smart Mesh Networks are designed for
rapid deployment, whilst giving exceptional performance and
competitive total cost of ownership.
In June 2018, CyanConnode launched its award-winning Omnimesh
Advanced Metering Infrastructure (AMI) platform, which has already
gained considerable commercial traction, especially in India which
is a key market for the Company.
Through a Global partner eco-system, which is vendor agnostic,
CyanConnode has several routes to market, therefore it is well
positioned to capitalise upon increasing Global demand for smart
metering solutions.
For more information, please visit www.cyanconnode.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTKQLFBFZLXBBZ
(END) Dow Jones Newswires
April 07, 2021 02:00 ET (06:00 GMT)
Cyanconnode (LSE:CYAN)
Historical Stock Chart
From Apr 2024 to May 2024
Cyanconnode (LSE:CYAN)
Historical Stock Chart
From May 2023 to May 2024