CyanConnode confirms results will ‘significantly exceed’ previous year


CyanConnode confirmed its full-year results will ‘significantly exceed’ the year before, in a trading update published on Thursday.

The company is set to publish its final 2018 results on Wednesday the 8th of May.

As previously stated in a January update, CyanConnode confirmed revenues will indeed prove significantly higher than its 2017 results.

The firm also noted hat trading for the first three months of the year had been ‘performing well’, proving in line with market expectations.

John Cronin, Executive Chairman, also commented:

“We are pleased to report that trading for the first quarter of 2019 has met CyanConnode’s market expectations. In addition, the Board believes it has sufficient funds to execute its business plan for 2019 and reach cashflow breakeven.

CyanConnode is expecting a positive second half of 2019 in its key markets including India, China and the rest of world for its pioneering smart city technology solutions.”

CyanConnode is a specialist in Internet of Things (IoT) technology, and in particular, smart meters.

Shares in the company (LON:CYAN) are currently trading +7.32% as of 13:20PM (GMT).

Watch Chief Executive John Cronin’s recent presentation at the UK Investor Magazine Investor Evening here.

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Nicole covers emerging global economic and political events for The UK Investor Magazine. Her focus is particularly upon company news and political developments in Europe and the US.