Global Invacom Group Limited Trading Update (5835U)
02 August 2022 - 4:00PM
UK Regulatory
TIDMGINV
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
Tony Taylor, Executive Chairman via Vigo Consulting
Strand Hanson Limited (Nominated Adviser www.strandhanson.co.uk
and Broker)
James Harris / Richard Johnson / Rob Tel: +44 20 7409
Patrick 3494
Vigo Consulting (UK Media & Investor www.vigoconsulting.com
Relations)
Jeremy Garcia / Kendall Hill Tel: +44 20 7390
0238
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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTFIFEETRIFIIF
(END) Dow Jones Newswires
August 02, 2022 02:00 ET (06:00 GMT)
Global Invacom (LSE:GINV)
Historical Stock Chart
From Mar 2024 to Apr 2024
Global Invacom (LSE:GINV)
Historical Stock Chart
From Apr 2023 to Apr 2024