Calnex Solutions (GB:CLX) has released an update.
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.
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