Italy's SECO sees double digit revenue growth next year - CEO
12/09/2022 13:00
MILAN, Sept 12 (Reuters) - Italian high-tech company SECO
IOT.MI expects its revenue to grow in "double digits" next
year as it is also benefitting from Western companies shifting
their supply chain to Europe in the face of geopolitical
tensions, CEO Massimo Mauri said on Monday.
SECO, which specialises in the development of 'Internet of
things' systems connecting devices like cars and medical devices
to the Internet, doubled its core profit in the first half of
this year while confirming its 200 million euro sales guidance
for 2022. urn:newsml:reuters.com:*:nFWN30H0FG
"European and U.S clients prefer having a global supplier
based in Europe rather than in Asia, given the current
circumstances. This is helping us," Mauri told Reuters.
He added it was too early to say whether the company will
top its annual targets this year but he did not rule out a
positive surprise.
"We historically exceed targets....We are working to do
that. For 2023 we are forecasting a double digit-growth in
revenue."
(Reporting by Elvira Pollina
Editing by Keith Weir)
((elvira.pollina@thomsonreuters.com;))