3rd Oct 2014 07:04
LONDON (Alliance News) - Software Radio Technology PLC Friday said it expects to swing to profit and post a big rise in revenue in the first half on the back of a strong performance from its project-based business.
The company said its expects to report a pretax profit for the six months to June 30 of GBP0.5 million, compared to a GBP434,000 loss a year earlier.
The profit is expected on the back of a forecast 70% rise in revenue in the first half to GBP5.4 million.
Software Radio said it saw strong revenue from its project-based business in the first half, along with contributions also from its core non-mandated and AtoN sectors.
"With many more projects in progress, coupled with the existing mandates and the pending US mandate in particular, we are excited about the future and look forward to providing shareholders with further updates in due course," said Software Radio Chief Executive Officer Simon Tucker.
Software Radio shares are up 15% at 28.60 pence at the open, the third highest gainer in the AIM All-Share index.
By Sam Unsted; [email protected]; @SamUAtAlliance
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