Fusionex International's full year revenue to be in line with expectations

Shares in AIM-listed software solutions provider Fusionex International, which specialises in big data analytics, artificial intelligence and the internet of things, soared nearly 18% on Monday as the company said it expects revenue to be in line with expectations.

In a trading update for the year ended 30 September, the company said it has built on the momentum of the first half of the year into the second, as it launched the next generation of its big data analytics platform, Giant 2016, in June.

Revenue is anticipated to be in line with market expectations and despite planned investment in the marketing and promotion of the company’s products, earnings before interest, tax, depreciation and amortisation (EBITDA) is expected to be significantly ahead of market expectations.

GIANT 2016 has opened up Fusionex to a new market across small and medium sized businesses, and the company said the pipeline for the platform is “substantial”, underpinned by a strong full year financial performance.

The company said it expects the momentum to continue in the next financial year.

Shares in Fusionex International were up 17.71% to 206p at 1237 BST.