Shearwater Group Optimistic Despite FY24 Challenges

Shearwater (GB:SWG) has released an update.

Shearwater Group PLC reported a resilient performance for FY24, despite a decrease in group revenue to £22.6m due to cautious customer spending. The group maintained a strong financial position with net cash of £5.0m and is optimistic about FY25, having already secured significant contracts and noticing a release of customer budgets. With a strategic focus on expanding into government departments, Shearwater remains confident in achieving future growth and sustainable profits.

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