IQGeo Group PLC (AIM:IQG) has said revenues will likely double and exceed expectations come its September interim results.
Revenue should sit around £20mln when IQGeo reports in September, up from £9.2mln in the first-half of 2022, the AIM-listed software solutions firm said on Monday.
This is thanks to increasing demand in the telecommunications and utility markets, which have fuelled IQGeo’s organic growth, alongside the integration of software firm Comsof following last August’s acquisition.
Pre-tax earnings should be at least £2.5mln, compared to early 2022’s £0.2mln, while total order intake will be around £22mln, up 50% on last year’s £14.6mln, meanwhile.
“Our achievements over the last six months validate our strategy and this, together with good visibility over future activity, give us great confidence,” boss Richard Petti said.
IQGeo’s anticipated revenue will come in higher than previous expectations, the company tipped, with pre-tax earnings in line with projections.
“We are now seen as an innovation and technology leader in the telecom and utility space,” Petti said, with both markets having “remained resilient” in the six months to June.
“We see continued long-term investment in fibre optic networks and in electric grid modernisation in all our key markets,” he added.
IQGeo shares jumped 5.4% to 321.5p following the news.