Business
Trading Update
Trading Update.
About this update from Calnex Solutions Plc
[{"type":"text","content":"\n \n \n \n This announcement contains inside information\n .\n \n \n \n \n \n \n \n \n \n 7 March 2023\n \n \n \n \n Calnex Solutions plc\n \n \n \n \n (\"Calnex\", the \"Company\" or the \"Group\")\n \n \n \n \n \n \n \n \n \n Trading Update\n \n \n \n \n \n \n \n \n Calnex Solutions plc (AIM: CLX), a leading provider of test and measurement solutions for the global telecommunications sector, provides an update on the Company's trading performance for the financial year ending 31 March 2023 (\"FY23\") and the outlook for the following year to 31 March 2024 (\"FY24\").\n \n \n \n \n \n \n Key Points\n \n \n \n ·\n Solid revenue and profit performance in the second half of FY23\n \n \n ·\n FY23 results expected to be in line with market expectations\n \n \n ·\n Global macroeconomic outlook remains challenging\n \n \n \n \n \n \n Update on Trading in FY23\n \n \n \n The Company entered the second half of FY23 (\"H2\") with a strong order book and successful conversion and delivery has led to the anticipated improved performance in H2. Good progress has been made in developing business in the data-centre sector and the integration of iTrinegy has gone well, opening up opportunities in the applications testing sector. As a result, the Board is pleased to confirm that it expects a strong financial performance in FY23, in line with market expectations and delivering double digit growth across revenue and profits. \n \n \n \n \n \n \n Outlook for FY24\n \n \n \n The macroeconomic outlook remains challenging, with growth slowing across the globe. Telecoms sector participants, including global equipment manufacturers, have been adversely impacted, with many recently reporting a general softening of demand for their products and services in the short-term, albeit noting that the long-term structural growth drivers remain strong. \n \n \n \n \n \n In response to the macroenvironment, some of Calnex's customers are currently taking a more cautious approach to investment decisions until there is better visibility on their project development timelines. Whilst these customers remain committed to the delivery of projects which will rely on Calnex's test instrumentation and solutions, the timing of these orders is less certain and market-driven delays are likely to have an impact on the Group...