4th May 2023 13:35
(Alliance News) - Alphawave IP Group PLC on Thursday said Chief Financial Officer Daniel Aharoni will step down following the publication of its delayed 2022 results next week.
London-based Alphawave provides connectivity technology for data centres, autonomous vehicles and other uses. It expects to publish the results on or before Friday next week.
Shares have been suspended since Tuesday, due to the delay in releasing results.
Alphawave said it doesn't expect its audited report to differ from preliminary numbers reported in April.
These showed revenue more than doubled to USD192.4 million in 2022 from USD89.9 million in 2021. Pretax profit improved 6.7% to USD24.6 million from USD23.1 million.
Alphawave said it will now begin the search for his successor. In the interim, Christian Bowsher, senior director of Finance at Alphawave Semi, will serve as acting CFO to support an orderly transition.
Executive Chair John Lofton Holt said: "Daniel has been a key part of our journey since our IPO in 2021 and during the three transformational acquisitions we undertook in 2022."
By Sophie Rose, Alliance News reporter
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