Trading Update

RNS Number : 7243S

CyanConnode Holdings PLC

18 July 2022

 

18 July 2022

CyanConnode Holdings plc

("CyanConnode" or the "Company")

Trading update for the financial year ended 31 March 2022

CyanConnode Holdings plc (AIM: CYAN), a world leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, is pleased to provide a trading update for the financial year ended 31 March 2022.

Highlights for the period

· Unaudited turnover for the period exceeds market expectation of £9.3m (FY2021: £6.4m)

· Cash at 31 March 2022 of £2.4m (FY2021: £1.5m)

· Cash received from customers during the period of approximately £8.2m (FY2021: £5.3m)

· 612k modules delivered to customers during the period (FY21: 481k)

Follow the link below to view a graph showing modules shipped during the financial year.

http://www.rns-pdf.londonstockexchange.com/rns/7243S_1-2022-7-17.pdf

John Cronin, CyanConnode's Executive Chairman, commented :

"The financial year ended 31 March 2022 was a record year for CyanConnode in terms of revenue.  Momentum has continued into the new financial year, especially in the Indian market.

I would like to thank all our employees for their continued hard work, support, and dedication in achieving this record set of results."

- Ends -

Enquiries:

CyanConnode Holdings plc    Tel: [phone]

John Cronin, Executive Chairman    www.cyanconnode.com

Cenkos Securities plc (Nomad and Joint Broker)    Tel: [phone]

Stephen Keys / Charlie Combe

Arden Partners plc (Joint Broker)    Tel: [phone]

Simon Johnson (Corporate Broking)

About CyanConnode

CyanConnode (AIM:CYAN.L), is a world leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, which are used for machine to machine (M2M) communication.  As well as being self-forming and self-healing, CyanConnode's RF Smart Mesh Networks are designed for rapid deployment, whilst giving exceptional performance and competitive total cost of ownership.

In June 2018, CyanConnode launched its award-winning Omnimesh Advanced Metering Infrastructure (AMI) platform, which has already gained considerable commercial traction, especially in India which is a key market for the Company.

Through a Global partner eco-system, which is vendor agnostic, CyanConnode has several routes to market, therefore it is well positioned to capitalise upon increasing Global demand for smart metering solutions.

For more information, please visit  www.cyanconnode.com

 

END

 

 

TSTFLFILDEIDLIF