Stilo International sales remain on track, investors told

Software tools and cloud services developer Stilo International told shareholders that sales projections for the current financial year remained in line with management expectations on Wednesday, as they gathered for the company’s annual general meeting.

The AIM-traded firm added that those projections, however, remained dependent on the materialisation of key contracts.

“The company has taken on more sales and technical resources to help deliver on pipeline projects and generate new business, which, while impacting the company's cost base and short term profitability, should underpin our projected growth in 2019 and beyond,” said chairman David Ashman.

Stilo said it remained un-geared, and cash balances at 30 April stood at £1.36m, compared to £1.62m at the end of December.

“Subject to approval by shareholders at the meeting, a final dividend for the year ended 31 December of 0.05p per ordinary share will be paid on 23 May to those shareholders on the register at 19 April,” Ashman said.