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Big Technologies PLC on Friday said it is performing in line with market expectations, following its initial public offering in July 2021.
Shares in the Hertfordshire-based monitoring technology firm were up 8.8% to 287.86 pence each in London on Friday midday.
Big Technologies began trading on London's AIM market in July last year, at a price of 200.00p per share. On its AIM debut, the company raised gross proceeds in excess of £200 million.
Shares are currently 44% ahead of the IPO price.
Big Technologies reported revenue of £13.9 million in the four months through to April, an increase of 18% year-on-year. Monthly recurring revenue in April was £3.9 million.
Further, the company said it has worked to overcome supply chain challenges by increasing levels of inventory.
Looking forward, the company expects to perform in line with the current market forecasts of adjusted earnings before interest, taxes, depreciation, and amortisation of £25.0 million to £25.5 million.
‘We look forward to the next few years with confidence,’ Chair Simon Collins added.
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