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Calnex Solutions PLC on Tuesday said it expects to post a more than 10% growth in revenue for its most recent financial year, despite a ‘challenging’ market.
Linlithgow, Scotland-based Calnex produces equipment for the telecommunications and cloud computing industries.
Calnex expects to post revenue of around £18.3 million for the year that ended March 31, rising 12% from £16.3 million the year before.
‘Cost control measures taken throughout the year have also contributed to the group’s return to profit,’ it added.
Cash at March 31 stood at £10.9 million, which was £2.3 million higher than its cash position at the end of its first half at September 30.
‘We are pleased to report a return to growth in FY25, driven by execution of our product expansion strategy and progress into new markets,’ said Chief Executive Officer Tommy Cook.
‘The successful launch of Paragon-neo and increasing demand across the cloud computing and defence markets highlight the strength of our product portfolio and market positioning. With a newly established partner network that is working well, a healthy balance sheet and order momentum building, we are well-placed to capitalise on our near-term growth opportunities.’
Looking ahead, the group is ‘confident’ in continued growth during financial 2026.
Calnex is due to release its full-year results on May 20.
Shares in Calnex were up 6.1% at 44.85 pence in London on Tuesday afternoon. The stock is down 20% over the past year.
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