Business
Correction: Final Results
Correction: Final Results.
About this update from Cyanconnode Holdings Plc
[{"type":"text","content":"\n\n \nThe following amendment has been made to the Final Results announcement released today at 07:00 under RNS No. 1716H. Within the Operational Review (India) section four references to Q1 FY23 are amended to Q1 FY24. All other details remain unchanged and the full amended text is set out below.\n \n 26 July 2023\n \nCyanConnode Holdings plc\n \n(\"CyanConnode\", \"the \"Group\" or the \"Company\")\n \nFinal Results for the Year Ended 31 March 2023\n \nCyanConnode Holdings plc (AIM: CYAN), a global leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, announces its audited results for the year ended 31 March 2023.\n \nFinancial highlights\n \n· Increase of 23% in revenue to £11.7m in FY23 from £9.6m in FY22, the highest annual revenue for the Group to date after four consecutive years of growth[1]\n \n· Reduction in gross profit to £4.2m in FY23 (FY22: £5.0m) as a result of lower margin sales of third-party products\n \n· Increase in operating loss to £3.3m in FY23 (FY22: £1.0m) as a result of lower gross margin, higher operating costs and a £1.0m impairment of intangible assets\n \n· Increase in EBITDA loss to £2.9m in FY23 (FY22: £0.4m loss)\n \n· Reduction in adjusted EBITDA[2] to loss of £1.6m in FY23 (FY22: £0.06m profit)\n ...