UK's CyanConnode drops on lower H1 revenue

Cyanconnode Holdings

08/11/2024 11:43

** Narrowband radio frequency network developer
CyanConnode's  CYAN.L  shares down 7.5% at 10.58 pence
    ** Company's H1 revenue drops to 5.6 mln pounds ($7.3 mln)
vs 5.8 mln pounds a year earlier
    ** Its current backlog is of 9.7 mln units, up from 3.5 mln
in March 2024
    ** Stock posts biggest intraday percentage loss since April
2 and is on track for 8 straight sessions of losses, if trend
holds
    ** Shares up about 28.24% this year, as of last close
     
     ($1 = 0.7721 pounds)

 (Reporting by Megha Kumari in Bengaluru)
 ((megha.kumari@thomsonreuters.com))