Business
Trading Update and Notice of Results
Trading Update and Notice of Results.
About this update from Cambridge Cognition Holdings Plc
[{"type":"text","content":"\n \n \n 21 July 2022\n \n \n \n \n \n \n Cambridge Cognition Holdings Plc\n \n \n \n (\"Cambridge Cognition\", the \"Company\" or the \"Group\")\n \n \n \n \n \n \n Trading Update and Notice of Results\n \n \n \n \n \n \n \n Continued strong growth and outlook with revenue increased by 31% on prior year\n \n \n \n \n \n \n \n \n Cambridge Cognition Holdings Plc (AIM: COG), which develops and markets digital solutions to assess brain health,\n is pleased to announce strong growth for the six months ended 30 June 2022.\n \n \n \n \n \n The unaudited financial highlights for the six months ended 30 June 2022 are:\n \n \n \n \n \n \n ·\n Increase in like-for-like sales orders of 44% to £7.2 million (H1 2021: £8.6 million including £3.6 million of one-off orders)\n \n \n ·\n Growth in revenue of 31% to £5.9 million (H1 2021: £4.5 million)\n \n \n ·\n Increase in contracted order book of £1.5m million since the last year end to £18.6 million (31 December 2021: £17.1 million)\n \n \n ·\n Profit after tax in line with expectations at £0.02 million (H1 2021: £0.1 million)\n \n \n ·\n Continued growth in cash balances at 30 June 2022 to £8.6 million (31 December 2021: £6.8 million)\n \n \n \n \n \n \n The Company followed up its strong performance in 2021 with a considerable growth in revenues to £5.9 million in the first half of 2022, which is up 31% on H1 2021 (H1 2021: £4.5 million). Order intake was in line with the Board's expectations at £7.2 million, up 44% on a like-for-like basis on H1 2021 (H1 2021: £8.6 million including £3.6 million of one-off orders) and the Company has a healthy and growing qualified pipeline of opportunities for the second half of 2022. \n \n \n \n \n \n The contracted order book was £18.6 million at 30 June 2022, an increase of £1.5 million since the start of the year. The order book provides the Company with visibility over future revenues and provides a solid foundation from which the Company can continue with its plans to invest in product and commercial development to further expand the business.\n \n \n \n \n \n Trading conditions continue to be positive and the Company has high levels of engagement with existing and potential new clients. With continued investment in commercial activities and product development, the Compan...