Aferian plc (GB:AFRN) has released an update.
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Aferian plc, a B2B video streaming solutions company, has reported a significant decrease in H1 2024 revenues, down 48% to $12.2 million, with a corresponding decline in exit run rate Annual Recurring Revenue and a net debt increase. Despite the downturn, management’s cost reduction efforts have aligned the company with its strategic goals, and they have seen progress in new customer deployments and contract extensions. The group’s outlook remains cautiously optimistic, expecting improvements in the second half of the financial year.
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