Big Sofa Technologies Sees Sharp Rise In Interim Revenue Growth

(Alliance News) - Shares in Big Sofa Technologies PLC rose on Wednesday after the company said it ...

Alliance News 12 June, 2019 | 11:19AM
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(Alliance News) - Shares in Big Sofa Technologies PLC rose on Wednesday after the company said it expects sharp year-on-year jump in revenue for the first half of 2019.

Shares in the video analytics provider were 19% higher at 4.88 pence each on Wednesday morning.

Revenue for the six months to the end of June is guided to reach GBP1.1 million, up from GBP602,000 the same period the year before.

Big Sofa said it continued to make progress in the year to date, with repeat subscriptions from existing global customers, and the acquisition of new customers in several sectors including manufacturing technology and retail.

The company also expects to record significant revenue growth in the second half of 2019, partly due to an ongoing cost savings programme first announced in October 2018.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Big Sofa Technologies Group PLC 4.19 GBX -0.24 -
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