Calnex Solutions (GB:CLX) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Calnex Solutions PLC experienced a challenging fiscal year 2024, with revenues dropping to £16.3 million, a 41% decrease from the previous year, and a loss before tax of £0.4 million, compared to a £7.2 million profit in FY23. Despite the downturn, which was attributed to deferred telecom investments due to the economic climate, the company maintained a robust closing cash position of £11.9 million. Calnex anticipates a return to growth in FY25, driven by new product launches in telecoms and cloud computing markets and a solid sales pipeline.
For further insights into GB:CLX stock, check out TipRanks’ Stock Analysis page.