Published on: May 31, 2023
Trading in-line, additional funding secured
Aferian’s update, released today, signals that group trading remains broadly in line with commentary in the FY22 results announcement. 24i’s (software) solutions continue to see strong demand, offset by the market-driven challenges facing the Amino (devices) division. In mitigation, management has identified an additional c.$3m of annualised cost savings and remains confident in Amino’s ‘strong’ medium-term sales pipeline. The update also confirms that the group remains in compliance with covenants on its senior loan facilities and has secured additional funding via a new £3.25m shareholder loan facility.