Updates

Calnex - Strong sales momentum continues

July 2022

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Lack of space meant I omitted my update last month. The latest FY21 results show another very strong year of trading, with sales of £22m, pretax profit up 64% to £6.0m and adjusted eps of 5.2p. Net cash grew to £15.4m building on the money raised at IPO and post the period end it acquired iTrineg whose NE-ONE Network Emulation platform is used by customers who might be moving their applications and services into the Cloud to analyse and predict an application's performance by recreating real-world network test environments. It is a small deal at £2.5m - equivalent to 1.8x sales.Meanwhile, demand for Calnex’s own telecoms testing equipment remains strong. Overall, Calnex received orders from 233 customers in the year, up 34 ...

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