Big Technologies maintains expectations after decent start to year

People-monitoring technology specialist Big Technologies said in an update on Tuesday that it was experiencing continuous revenue growth, with its performance in the first four months of 2023 meeting expectations.

The AIM-traded company, which was holding its annual general meeting, said its pipeline of future opportunities remained robust.

Its board said it was confident in sustained growth and cash generation for the upcoming year.

For the four months through April, Big Technologies said its unaudited consolidated revenue totalled £18.5m, which was 33% higher than the same period in 2022.

The firm said the strong performance, combined with a favourable outlook for the second half, meant it was maintaining its expectations for 2023.

“Our products and technology deliver benefits for society across the globe,” said chair Simon Collins.

“In the criminal justice sector our products facilitate a shift towards rehabilitative community-based sentencing which reduces recidivism and keeps communities safer.

“In the remote care sector, our technology helps people live happier, healthier and more independent lives.”

Collins said market drivers for continued growth across both sectors remained strong.

“With our clear strategy and market-leading products, we are well positioned for growth and continued cash generation during 2023 and beyond.”

At 1201 BST, shares in Big Technologies were down 1.01% at 283.1p.

Reporting by Josh White for Sharecast.com.