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Seeing Machines trading in line

By BFN News | 08:54 AM | Thursday 08 February, 2018


Seeing Machines, a provider of computer vision technologies, said trading for the current financial year remains in line with expectations. Fleet total contract value (TCV) signed with customers, but not yet delivered nor recognised as revenue, has increased from A$21.5 million at 30 June 2017 to A$36.4 million at 31 December 2017. The company expects to report group revenue for the six months to 31 December 2017 in excess of A$14 million (unaudited). The company raised £35m through a placing with institutional investors announced in December 2017 and a further £2.4 million through an offer to existing shareholders. These proceeds will enable further investment in the ongoing development of the FOVIO driver monitoring platform technology and continued product improvement. At 8:54am: (LON:SEE) Seeing Machines Ltd share price was +0.15p at 5.8p Story provided by StockMarketWire.com

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