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Seeing Machines expects to post annual revenue beat

By BFN News | 09:22 AM | Monday 03 August, 2020


Computer vision technology company Seeing Machines said it expected to beat revenue expectations for the full year. Income for the year through June was seen rising 30% to A$42.6m, including revenue of A$39.7m, which the company said was around 8.5% above consensus expectations. Cash at 30 June 2020 was A$38.7m, up by 22% on consensus guidance. 'We are pleased with our results given the unique challenges we faced in the second half of the 2020 financial year,' chief executive Paul McGlone said. 'Our business is focused on transport industries and it is clear that the sector has been under unprecedented pressure since Covid-19 emerged.' 'Notwithstanding this, we have continued to make progress and that is a testament to the hard work of our team and has reaffirmed the importance of our mission which is to keep people safe and reduce transport related accidents.' At 9:22am: (LON:SEE) Seeing Machines Ltd share price was +0.18p at 3.28p Story provided by StockMarketWire.com

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