Business
Interim results
Interim results.
About this update from Aurrigo International Plc
[{"type":"text","content":"\n\n25 September 2023\nAurrigo International plc\nInterim results for the six months to 30 June 2023\nAurrigo International plc (AIM: AURR, the \"Company\" or \"Aurrigo\"), a leading international provider of transport technology solutions, reports its interim results for the six months to 30 June 2023 (\"H1 23\").\n \nHighlights\n \n· Autonomous and Aviation division making good progress following the announcement in February 2023 of a strategic partnership with Changi Airport Group (\"CAG\")\n· Positive performance from the Automotive division with new customers added\n· Acquisition of GB Wiring Systems Limited (\"GB Wiring\") in June 2023, integrating well\n· Continued progress against IPO objectives, including scaling headcount to 97 at H1 23 (FY 22: 70)\n· Sunderland Advanced Mobility Shuttle (\"SAMS\") project and grant funding announced in February 2023\n· Revenue growth of 35% to £3.1m (H1 22: £2.3m)\n· Gross profit consistent with the prior year at £0.7m (H1 22: £0.7m)\n· Adjusted EBITDA loss of £1.6m (H1 22 loss: £0.3m), reflects the scale up of the autonomous and aviation division\n· Cash of £2.8m at period end\nPost period-end\n \n· Collaboration with UPS to develop and pilot Auto-Cargo® at East Midlands Airport, with £483k UK Government grant announced September 2023\n· European Institute of Innovation and Technology grant of €275k for project to deploy Auto-Shuttle® in Prague announced in September 2023\n· Auto-DollyTug® mk3 completed its extended development and will be delivered to market during 2023 \n \nDavid Keene, CEO of Aurrigo International plc, commented:\n\"We saw good progress during the first half of the year, engaging with both new and existing customers and partners. I believe that we have now developed in the Auto-DollyTug mk3 a vehicle that will revolutionise operations at airports internationally.\"\n \n\"Interest from aviation organisations and airport groups in our solutions and the ability to showcase the capabilities of our technologies on th...