CyanConnode Holdings plc (LON:CYAN), a world leader in narrowband radio frequency (RF) mesh networks, has announced its unaudited interim results for the six months ended 30 September 2023 (H1 FY 2024).
John Cronin, CyanConnode Executive Chairman, commented:
“The Indian smart metering market and the Revamped Distribution Sector Scheme (RDSS) continues to gather momentum with tenders for more than 220 million smart meters having been sanctioned to date.
CyanConnode is experiencing a period of rapid growth and has won orders for a total of 5.3 million Omnimesh modules to date in India alone, with a significant portion of these (4 million) having been won during the past 18 months.
Orders have continued to be won in other territories too, such as the order announced in October from the MENA region, which was a follow-on order from the contract announced in April 2022.
We can confirm that revenue is expected to meet market expectations and look forward to updating on further progress in due course.”
