Shares in Aferian PLC (AIM:AFRN) rose 7% on Monday morning after the video streaming technology group posted a sharp improvement in first-half performance and forecast continued revenue growth into the second half of the year.
The company said it expects to report adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of up to $1.8 million for the six months to the end of May.
That marks a swing back to profit from a $2.3 million loss a year earlier, helped by a strong recovery in its Amino division and the impact of recent cost cuts.
Group revenue for the period is expected to come in at $16.6 million, up 36% year on year. The Amino unit, which provides set-top boxes and software for Pay TV providers, nearly doubled its sales to $9.3 million, offsetting flat performance at the company’s other business, 24i.
Net debt increased slightly to $14.2 million due to seasonal working capital movements. The company said it remains focused on controlling costs and is in active talks to refinance its borrowings.
Aferian reiterated its full-year forecast, projecting a 20% increase in revenue for the year to November 2025, driven largely by further growth in Amino. Interim results are due in August.
The shares rose 0.25p to 4.05p.