Calnex Solutions’ profit up by 38 per cent
Linlithgow-based Calnex Solutions has seen both revenue and profit jump by more than a third in a “strong” first half, with an analyst highlighting confidence in current full-year expectations.
The firm, which provides test and measurement products for the global telecommunications sector, has unveiled its unaudited results for the six months ending September 30, showing a 38 per cent yearon-yearincreaseinrevenue to £12.7 million, attributed tostrongunderlyinggrowth and the impact of currency movements.
Underlying earnings beforeinterest,taxes,depreciation, and amortisation (ebitda) was up by 40 per cent, with the Aim-quoted firm adding that the underlying ebitda margin was maintained in line with the prior period, “despite the challenging external economic environment”. Pretax profit jumped by 34 per cent to £3.1m, and basic earnings per share came in at 2.78p, marking a “solid” 36 per cent jump, while an interim dividend of 0.31p pencepershareistobepaid next month.
Calnex also flagged that the half year saw £1.3m cash generated after the £2.3m net acquisition cash cost for the £3.5m acquisition of itrinegy, a developer of test networks technology for the software application and digital transformationtestingmarket,with integration progressing “as planned”, while a new networksynchronisationproduct called Sentry is due to be launched.
Chiefexecutiveandfounder Tommy Cook said: “We are in a strong position to continue to benefit from the underlying long-term growth drivers in the telecoms and cloud computing markets.”