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Telcoms test and measurement company Calnex Solutions reported that annual profit rose by more than fifth, driven by higher revenue that exceeded its initial expectations.
For the 12 months ended 31 March 2021, pre-tax profit rose 22% to £3.6 million year-on-year as revenue increased 31% to £18.0 million.
Order intake and revenue increased across all three product lines compared to the prior year, and included the 'early pull through of some orders into FY21,' the company said.
'The business continues to benefit from the evolutionary trends affecting the telecoms sector, notably in 5G and cloud computing, which in turn drive growth in the need for test and measurement instrumentation and solutions,' it added.
'The board is looking forward with confidence to the Group continuing to make further progress in the current financial year and beyond.'
At 8:42am: (LON:CLX) share price was 0p at 68p