- Technology company Starcom said it was advanced talks on a 'number of potentially substantial projects,' and detailed plans to rebrand and leverage the current supply-chain crisis that has been driving up shipping costs to improve demand for its products.

Starcom said it was at the advanced stage discussions on a number of 'potentially substantial' projects, although cautioned hat there could be no certainty that these negotiations would lead to final contracts.

Still, certain potential clients had indicated their desire to reach an agreement with Starcom for its technology and the board said it was hopeful to conclude one or more contracts before the end of this year.

Following a strategic review of the company's position in its markets, the company said it intended to commence a rebranding of Starcom's products, focus on increasing its global marketing plans and would seek to take advantage of the major increases in the costs to companies of shipping with containers that, could improve the demand for its product range.

Looking ahead, the second half of the year was still expected to show an improvement on the first half, but flagged delayed customer orders as a risk to its outlook.

Some orders for customers, existing and prospective, had been delayed as a result of supply-chain issues, particularly as 'suppliers now often require full payment in advance,' the company said.

The company said it would take action to mitigate the impact of rising costs and was proposing to raise up to £450,000 in an equity subscription, which it expected to be able to conclude shortly. Story provided by