REG - Global Invacom Group - Trading Update

Global InvacomAnnouncement

02/08/2022 07:15

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RNS Number : 5835U  Global Invacom Group Limited  02 August 2022

2 August 2022

 

The information communicated in this announcement contains inside information
for the purposes of Article 7 of the Market Abuse Regulation (EU) No.
596/2014, as it forms part of UK domestic law.

 

Global Invacom Group Limited

("Global Invacom", the "Company" or the "Group")

 

Trading Update

 

Singapore/London, 2 August 2022 - Global Invacom (SGX: QS9) (AIM: GINV), the
global provider of satellite communications equipment and electronics,
announces that based on a preliminary review of the Group's unaudited
financial statements for the half year ended 30 June 2022 ("1H FY2022"), the
Group expects to record a net loss after tax of approximately US$3.3 million
for 1H FY2022 against a net loss of US$1.2 million for the half year ended 30
June 2021 ("1H FY2021").  Group revenue in 1H FY2022 is expected to be
approximately US$37.2 million versus US$40.4 million in 1H FY2021.

 

Global Invacom remains well positioned to capitalise on the expected growth
opportunities in the DOS market, as well as the normalisation of remote
working, with individuals of all demographics now increasingly dependent on
reliable connectivity for their daily lives.

 

However, the ongoing and much publicised shortage of semiconductors globally,
continues to impact the Company's ability to satisfy existing orders and
generate associated additional revenue. Furthermore, the Group continues to be
impacted by material availability and prices increases, compounded by labour
challenges.

 

The Group continues to assess its cost base to streamline certain core
functions and continues to reduce administrative costs, whilst not impacting
its offering to customers.

 

Further details of the Group's financial performance will be set out in the
Company's unaudited financial statements for 1H FY2022, which remain subject
to auditor review, and are expected to be announced no later than 14 August
2022.

 

In accordance with SGX market practice, the Board of Directors of the Company
wishes to advise the shareholders and investors of the Company to exercise
caution when dealing in the shares of the Company. In the event of any doubt,
they should consult their stockbrokers, bank managers, solicitors, accountants
or other professional advisers.

 

For further information, please contact:

 

 Global Invacom Group Limited                              www.globalinvacom.com (http://www.globalinvacom.com/)
 Tony Taylor, Executive Chairman                           via Vigo Consulting

 Strand Hanson Limited (Nominated Adviser and Broker)      www.strandhanson.co.uk (http://www.strandhanson.co.uk/)
 James Harris / Richard Johnson / Rob Patrick              Tel: +44 20 7409 3494

 Vigo Consulting (UK Media & Investor Relations)           www.vigoconsulting.com (http://www.vigoconsulting.com/)
 Jeremy Garcia / Kendall Hill                              Tel: +44 20 7390 0238
 ginv@vigoconsulting.com (mailto:ginv@vigoconsulting.com)

 

 

About Global Invacom Group Limited

 

Global Invacom is a fully integrated satellite equipment provider with sites
across Singapore, China, Indonesia, Philippines, Malaysia, Israel, UK and the
U.S. Its customers include satellite broadcasters such as Sky Group of the UK
and Dish Network of the USA and Data over Satellite providers including Hughes
Network Systems, Viasat and Gilat Satellite Networks.

 

Global Invacom provides a full range of satellite ground equipment including
antennas, LNB receivers, transceivers, fibre distribution equipment,
transmitters, switches, and video distribution components, as well as
manufacturing services for the defence and healthcare sectors. The Group is
the world's only full‐service outdoor unit supplier.

 

Global Invacom is listed on the Mainboard of the Singapore Exchange Securities
Trading Limited and its shares are admitted to trading on the AIM Market of
the London Stock Exchange.

 

For more information, please refer to www.globalinvacom.com
(http://www.globalinvacom.com/)

 

 

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