14th Jun 2022 13:28
Aferian PLC - Leeds, England-based video streaming company - Expects to report an exit run rate annual recurring revenue of USD15.8 million in the six months ended May 31. This would represent 16% growth against the USD13.8 million reported the previous year, or 26% growth on a constant currency basis. Software and services revenue is anticipated at USD12 million, an increase of 21% against the previous year's USD9.9 million. Device revenue is expected at USD33 million, down 8% year-on-year. This is a result of shipping and production delays related to Covid-19 lockdown in China. Total interim revenue expected at USD45 million, flat with the USD45.3 million achieved the previous year.
Chief Executive Donald McGarva says: "The first half saw us continue our momentum from 2021 despite continued challenges brought by the pandemic and global supply chain issues. Our quality of earnings and revenue visibility has continued to improve, and we have continued to make pleasing progress in executing and innovating against our 2025 strategy."
Current stock price: 128.05 pence, down 3.0% in London
12-month change: down 23%
By Heather Rydings; [email protected]
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