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Cordel Group PLC on Wednesday said it expects to report a rise in revenue during its most recent financial year, following its warning in June of slow sales cycles hurting its topline growth. The London-based company, which uses artificial intelligence to supply transport corridor analytics, anticipates revenue of £4.8 million for the year that ended June 30, which would be up 8.1% from £4.4 million the year before. Cordel won five new customers during the year, including contracts with two major US railroads. However, it noted at the beginning of June that ‘protracted sales cycles’ have pushed some initially expected revenue into financial 2026. At the time, broker Cavendish had lowered its financial 2025 revenue forecast for Cordel to £4.8 million from £6.2 million. ‘Notwithstanding this, the uplift in software revenues, compared to hardware revenues, and ongoing careful expense management created an improved operating margin and contributed to a strong positive cashflow performance over the year, with closing cash ahead of plan,’ said Chief Executive Officer John Davis. Cash at June 30 was £1.5 million, compared to £1.0 million at the end of June 2024. The company plans to further invest in marketing and delivery over the next 12 months, to support the rollout of its new positive train control platform. Cordel expects to release its full-year results in November. ‘We have performed well in financial 2025, despite the aforementioned revenue delays, with an excellent cashflow result, achieved during a period of investment in capacity and technology,’ commented Chair Ian Buddery. ‘We are excited by the potential of our PTC product initiative, ahead of its upcoming launch. An unexpected bonus has been the interest in PTC from other countries, the applications for our multimodal artificial intelligence technology are broader and deeper than anticipated.’ Shares in Cordel were down 9.8% at 6.54 pence in London on Wednesday afternoon. The stock remains up 45% over the past year. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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