23rd Jun 2025 12:07
(Alliance News) - Aferian PLC on Monday said it expects to report a swing to profit and a sharp rise in revenue for the first half of its financial year, reflecting strong momentum in its Amino business and benefits from recent cost-cutting efforts.
The Cambridge, England-based business-to-business video streaming company said it anticipates revenue for the six months to May 31 will rise 36% to USD16.6 million from USD12.2 million a year before.
Adjusted earnings before interest, tax, depreciation and amortisation are expected to reach between USD1.6 million and USD1.8 million, swinging from an adjusted Ebitda loss of USD2.3 million in the prior year.
Aferian said the Amino business generated revenue of around USD9.3 million, up 94% from USD4.8 million, driven by strong demand from existing pay TV customers. Amino provides set-top boxes and software for pay TV providers.
Revenue from its 24i segment was flat at USD7.3 million, as customer losses were offset by new business wins. 24i enables video content owners and distributors to stream across mobile, TV and set-top devices.
Group net debt was USD14.2 million on May 31, compared with USD12.7 million six months earlier and USD14.9 million a year before. Aferian said it is focused on working capital management and cost control, and continues discussions to refinance its lending facilities.
Chief Executive Mark Carlisle said: "The improved financial performance in the first half of financial 2025 follows on from the strong turnaround performance in the second half of last year. We expect this level of profitability to continue into the second half of financial 2025 with full-year revenues to be approximately 20% higher than financial 2024 driven by strong growth in the Amino business."
Revenue for the financial year that ended November 30, 2024 was USD26.3 million, down from USD47.8 million the previous year.
Aferian said it expects to release its interim results in early August. Its shares were up 10% at 4.19 pence in London around midday on Monday.
By Eva Castanedo, Alliance News reporter
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