CyanConnode Holdings PLC Trading Update (5757O)
October 11 2021 - 2:00AM
UK Regulatory
TIDMCYAN
RNS Number : 5757O
CyanConnode Holdings PLC
11 October 2021
11 October 2021
CyanConnode Holdings plc
("CyanConnode" or the "Company")
Trading Update For The Six Months Period Ended 30 September 2021
(H1 FY 2022)
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 six months ended 30 September 2021
(H1 FY 2022).
Highlights
-- Turnover of GBP4.1 million for the six-month period ended 30
September 2021, 2.7 times higher than the equivalent FY 21 period
(H1 FY 2021: GBP1.5 million)
-- Period end cash and cash equivalents of c. GBP1.74 million (H1 FY 2021: GBP1.0 million)
-- Approximately GBP3.8 million cash received from customers
during the period, 2.4 times higher than the equivalent FY 2021
period (H1 FY 2021: GBP1.6 million). A further GBP0.24 million has
been received since the end of the period.
-- 315k Omnimesh modules shipped to customers during the period,
3.4 times higher than the equivalent FY 2021 period (H1 FY 2021:
92k)
-- 152k Omnimesh modules ordered for a new customer in northern India
-- Follow-on order from MEA (Metropolitan Electricity Authority) Smart Grid Project in Thailand
-- 100k Omnimesh modules ordered for a new customer in Africa
-- Key MOU (Memorandum of Understanding) signed with
Intellismart (IntelliSmart Infrastructure Private Limited)
-- Heavily oversubscribed Placing completed at a premium to the
then share price, raising GBP3.15 million before expenses
-- Selected as EESL (Energy Efficiency Services Limited)
Technology Partner for the Middle East and Africa
-- Global Strategic Alliance signed with SEW (Smart Energy Water)
-- Further strengthening of the Indian Management Team
-- Awarded the London Stock Exchange Green Economy Mark
-- Won the Frost and Sullivan Global Smart Metering Technology Innovation Leadership Award
Follow the link to view graph showing cumulative modules shipped
to date:
http://www.rns-pdf.londonstockexchange.com/rns/5757O_1-2021-10-10.pdf
John Cronin, CyanConnode Executive Chairman, commented:
"I am pleased with the continued successful deployment of
projects, which has resulted in a significant increase of revenue
for the first half of the financial year ending 31 March 2022 (H1
FY 2022).
As with many companies, there have been challenges which
impacted our business during the period. The year started with
further Covid-19 lockdowns and ongoing component shortages, which
resulted in higher costs and longer lead times. Nevertheless, we
have been able to continue manufacturing and shipping our products
to meet customer requirements on time.
Despite these challenges, I believe CyanConnode will meet market
expectations for the current financial year."
- 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 / Elliot Mustoe (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
TSTFLFVFIILILIL
(END) Dow Jones Newswires
October 11, 2021 02:00 ET (06:00 GMT)
Cyanconnode (LSE:CYAN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Cyanconnode (LSE:CYAN)
Historical Stock Chart
From Jul 2023 to Jul 2024