Feedback expects 'significant growth' in revenues

Medical imaging technology outfit Feedback expects to report significant growth in revenues throughout its current trading year.

Electronic & Electrical Equipment

9,605.91

15:44 15/11/24

-1.06%

-102.78

As a result of the group's new hires and investment in product sales during the first half of its financial year, Feedback now anticipates an improvement to recognised revenues for the year ending 31 May.

However, the investment in new hires for Cadran, along with the agreement with Future Processing, signed in January 2019, increased Feedback's cost base, the principal benefit of which will not be realised until the next financial year.

As a result, Feedback warned investors that the loss for its current financial year would reflect such investment but not the total anticipated income.

Feedback said the investments had been made in order to help drive sales, increase capabilities and improve the functionality of its technology and provide access to specialist medical imaging and AI expertise.

As of 0900 BST, Feeback shares had climbed 5.88% to 0.90p.