StockMarketWire.com - Network infrustructure company CyanConnode reported narrower losses, but lower revenue as orders were hurt by the impact from the pandemic and the elections in India.

For the fifteen-month period ended 31 March 2020, pre-tax losses narrowed to £6.2m from £6.3m, while revenue fell 44% to £2.4m.

The company blamed the lower revenue on restrictions put in place during the 2019 Indian elections, which caused delays both to the rollout of existing contracts and also to the awarding of new contracts.

Performance in the final quarter of the period, meanwhile, was hurt by the COVID-19 pandemic.

'CyanConnode has adapted to working under COVID-19 conditions and continues to remain on track with its current development plans,' the company said. 'Nevertheless, the company has encountered challenging circumstances in the markets in which it operates, which are reflected in these historical figures.'




At 8:15am: [LON:CYAN] CyanConnode PLC share price was -0.4p at 3.5p



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