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Cambridge Cognition Holdings PLC on Thursday said revenue grew strongly in the first half of 2022.
Shares in Cambridge Cognition were up 9.3% at 118.00 pence in London on Thursday.
The Cambridge-based assessment software provider reported 31% growth in revenue to £5.9 million from £4.5 million in the six months to June 30. Profit after tax is expected to fall to £20,000 from £100,000 a year before, but the firm said this was as expected.
Like-for-like sales orders increased by 44% to £7.2 million from £5 million. In line with the board's expectations, contracted orders have increased by £1.5 million to £18.6 million with ‘healthy and growing...opportunities for the second half of 2022’, it said.
The company's cash balances grew to £8.6 million from £6.8 million at the end of 2021.
The company's said: ‘With continued investment in commercial activities and product development, the company expects to achieve further year-on-year revenue growth. The cash position continues to grow to £8.6 million at 30 June 2022 and provides the business with the platform to make considered investments as opportunities arise’.
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