7th Jul 2015 07:27
LONDON (Alliance News) - Cyan Holdings PLC on Tuesday said its first half trading was in line with its expectations as it managed to continue the momentum seen at the end of its previous financial year.
Cyan, which makes mesh-based flexible wireless products for utility metering and lighting control, said it has continued to make progress in the first half on further commercialising its smart metering and lighting products.
Among the milestones made in the half was the delivery of a smart metering project for Tata Power Mumbai in India and a GBP1 million order for smart metering from Enzen Global Solutions, also in India.
Cyan said it remains confident of generating revenue growth in the coming year.
"There were a number of significant developments during the period and we remain well placed to develop operations in all four continents that we operate in. Through our eco system of partners, we are bidding for a number of orders and are also hopeful that a number of commercial pilots will come to fruition during the second half. We very much look forward to updating the market in due course," said Executive Chairman John Cronin.
Cyan shares were up 4.1% to 0.1925 pence in early trade.
By Sam Unsted; [email protected]; @SamUAtAlliance
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