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(Sharecast News) - Video streaming business Aferian said on Monday that it expects to report "a significantly improved" financial performance in H125, reflecting strong trading momentum and the benefits of recent cost restructuring.
Aferian said H1 revenues were expected to be approximately 36% higher year-on-year at roughly $16.6m, with revenue from its Amino unit seen 94% higher at approximately $9.3m, driven by strong orders from existing Pay TV customers.
The AIM-listed group also said adjusted underlying earnings were anticipated to be in the range of $1.6m to $1.8m, representing "a material improvement" on the prior year's H1 adjusted underlying loss of $2.3m.
Chief executive Mark Carlisle said: "The improved financial performance in the first half of FY25 follows on from the strong turnaround performance in H2 last year. We expect this level of profitability to continue into H2 FY2025, with full year revenues to be approximately 20% higher than FY24 driven by strong growth in the Amino business."
As of 0930 BST, Aferian shares were up 6.58% at 4.05p.
Reporting by Iain Gilbert at Sharecast.com
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