17th Apr 2023 14:25
Cordel Group PLC London-based artificial Intelligence platform for transport corridor analytics - Revenue in third quarter ended March 31 jumps 18% annually to GBP743,000 from GBP629,000. Says cost of sales rose by 5% to GBP177,000 from GBP168,000, whilst total expense fell by 13% to GBP581,000 from GBP665,000. Loss before interest, tax, depreciation and amortisation narrows to GBP15,000 from GBP204,000.
Interim Chief Executive John Davis says: "The Amtrak contract signing was the third quarter highlight, together with continuing progress in the UK with both existing contracts and new opportunities. We have confidence in the full year outlook and will carry our largest ever backlog into the 2024 fiscal year commencing 1 July 2023."
In March, Cordel said it was awarded a USD6.7 million contract by US intercity passenger rail service provider Amtrak to supply a software suite for survey and clearance management.
Current stock price: 6.90 pence, up 11% in London on Monday
12-month change: down 28%
By Sophie Rose; Alliance News reporter
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