Ixico revenues on track to meet full-year market expectations

Data analytics firm Ixico expects half-year revenues to be in line with market expectations.

Ixico anticipates reporting revenues of £3.43m for the six months ended 31 March, for an improvement of 22% year-on-year, and closed out the half with a solid 177% stronger cash balance of £7.5m as a result of its £5.5m oversubscribed placement in May 2018.

The AIM-listed outfit assured investors that it remained confident that revenues for the full-year to 30 September would also be in line with market expectations of £6.6m, an increase of 22% over the prior year's reported revenues of £5.4m.

Chief executive Giulio Cerroni said: "We entered the 2019 financial year with an order book of £19.3m in value.

"In the first six months of the 2019 financial year, this momentum in building our order book has continued and we have been awarded further new contracts with a value of £5.2m from our healthy pipeline of opportunities.

"This robust order book is expected to enable us to deliver on the +20% revenue growth targets we have set for the business."

Ixico will post its fully audited first-half results on 22 May.

As of 0835 BST, Ixico shares had dipped 0.19% to 26.45p.