8th Apr 2025 12:31
(Alliance News) - Calnex Solutions PLC on Tuesday said it expects to post a more than 10% growth in revenue for its most recent financial year, despite a "challenging" market.
Linlithgow, Scotland-based Calnex produces equipment for the telecommunications and cloud computing industries.
Calnex expects to post revenue of around GBP18.3 million for the year that ended March 31, rising 12% from GBP16.3 million the year before.
"Cost control measures taken throughout the year have also contributed to the group's return to profit," it added.
Cash at March 31 stood at GBP10.9 million, which was GBP2.3 million higher than its cash position at the end of its first half at September 30.
"We are pleased to report a return to growth in FY25, driven by execution of our product expansion strategy and progress into new markets," said Chief Executive Officer Tommy Cook.
"The successful launch of Paragon-neo and increasing demand across the cloud computing and defence markets highlight the strength of our product portfolio and market positioning. With a newly established partner network that is working well, a healthy balance sheet and order momentum building, we are well-placed to capitalise on our near-term growth opportunities."
Looking ahead, the group is "confident" in continued growth during financial 2026.
Calnex is due to release its full-year results on May 20.
Shares in Calnex were up 6.1% at 44.85 pence in London on Tuesday afternoon. The stock is down 20% over the past year.
By Emily Parsons, Alliance News reporter
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