Aferian’s update, released today, signals that group trading remains broadly in line with commentary in the FY22 results announcement. 24i’s (software) solutions continue to see strong demand, offset by the market-driven challenges facing the Amino (devices) division. In mitigation, management has identified an additional c.$3m of annualised cost savings and remains confident in Amino’s ‘strong’ medium-term sales pipeline. The update also confirms that the group remains in compliance with covenants on its senior loan facilities and has secured additional funding via a new £3.25m shareholder loan facility.
Group trading in-line, 24i performing well
Today’s update confirms that trading remains broadly in line with commentary provided in the FY22
Aferian plc (LON:AFRN) is a trusted partner and global provider of innovative, scalable media and entertainment technology solutions. As an IPTV pioneer, working with over 250 operator customers in 100-plus countries, Aferian continuously innovates to help customers deliver modern video experiences. Aferian has two operating companies: 24i and Amino.