Shares soar at Calnex, Linlithgow Telecoms Firm

Calnex CEO Tommy Cook

Shares of Linlithgow-based telecoms firm Calnex Solutions plc rose another 9% on Thursday following Wednesday’s roughly 20% gain on the back of a positive set of maiden results as a public company.

The firm’s unaudited results for the six months ended September 30, 2020, showed revenue growth of 37% to £7.7 million and 71% growth in profit before tax to £1.95 million.

In the results statement, Calnex CEO Tommy Cook said: “We are delighted to report on another strong period of trading, delivered in the lead up to our IPO on AIM, in which we experienced continued strong demand across all our product offerings.

“Our successful IPO, completed in early October, has provided us with the springboard to execute on our growth strategy.

“The strength of our relationships within the telecoms sector, breadth of customer base and established market position, provide us with a strong platform for future growth.

“We will continue to invest in business development and R&D to capitalise on the opportunities arising from the evolution of the telecoms market and look to the future with confidence. “