Aferian FY results seen in line with previous guidance

Aferian stated that adjusted operating profits for the year ended 30 November were expected to be within the $7.8m-8.8m guidance range, while total revenues were seen approximately 2% higher at $91.0m.

The AIM-listed group added that it had continued to make "strong progress" in improving the quality of earnings and enhancing revenue visibility throughout the year, primarily in its 24i business.

Chief executive Donald McGarva said: "We have continued to make progress this year to evolve Aferian into a leading video streaming solutions company to both serve and shape our growing market.

"Our results demonstrate that we continue to execute on improving our software and annualised recurring revenue growth and we look forward to providing more detail at the time of our full-year results."

As of 0955 GMT, Aferian shares were down 1.08% at 90.02p.

Reporting by Iain Gilbert at Sharecast.com