Calnex Solutions PLC - Linlithgow, Scotland provider of test and measurement solutions for the global telecommunications sector - In the six months to September 30, swings to pretax loss of £599,000 from a profit of £3.1 million a year prior. Revenue falls 38% to £7.8 million from £12.7 million. Maintains interim dividend at 0.31 pence per share. Looking ahead, expects to close year in line with market expectations, and anticipates to return to growth in financial 2025 via ‘creation of new use cases for existing products, plus the development of new products and expansion into growing sectors.’ Further, Calnex says: ‘We believe the fundamental drivers that underpin the build out of the mobile network and the expansion of the data centres and cloud computing capacity have not changed, there is simply a pause caused by the macro-economic climate. Within the telecommunications market, the close relationships we hold with our customers and partners mean we are well positioned to convert the sales pipeline to orders once spending patterns normalise.’
Current stock price: 66.50 pence, up 7.3% on Tuesday afternoon
12-month change: down 57%
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