StockMarketWire.com - Seeing Machines said it more than doubled its annual revenue after signing more contacts for its automated driving technology, though it warned falling margins would hurt profits.

Sales for the six months through June rose to A$30.7m (£17.4m), up from $13.5m on-year, the company said.

Revenue momentum accelerated through the year, it added, with sales in the second half being more than 9% higher than in the first.

Overall gross margin, however, was impacted by previously-announced delays to shipments of, and higher-than-expected final hardware costs.

Gross margin was expected to be below the board's expectations for the year, with a consequent impact on gross profit, Seeing Machines said.


At 9:32am: [LON:SEE] Seeing Machines Ltd share price was -0.6p at 10.95p



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