Source - Alliance News

Aurrigo International PLC - Coventry, England-based transport technology - Delivers a strong operational and financial performance since its initial public offering on September 15, in line with market expectations. Says market consensus for 2022 is an earnings before interest, tax, depreciation and amortisation loss of £1.2 million on revenue of £5.2 million. Since IPO, Aurrigo has invested in development of its Autonomous and Aviation division. The division experienced a ‘strong second half performance with good activity levels across all customers and enquiry levels continue to be encouraging, particularly amongst new potential customers’.

Chief Executive Officer David Keene says: ‘2022 was a transformational year for Aurrigo - we joined AIM and raised the funds to invest in our innovative technology, develop our market position and grow our dedicated team. We’re proud to be delivering on what we set out at the time of the IPO and to have started 2023 strongly with industry partnerships in Aviation and good traction across Automotive.’

Aurrigo expects to report its full-year results in April.

Current stock price: 119.45 pence each, up 0.8% on Tuesday morning in London, more than doubled from IPO price of 48p.

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