Telit Communications sees first-half revenue rising 13%, margins stabilising
StockMarketWire.com - Internet of Things company Telit Communications said it expected to post a 13% rise in first-half revenue, with margins stabilising.
Revenue for the six months through June was expected to rise to around $201m, with a contribution from Telit's connectivity and IoT platforms services business in the order of $16.5m.
'Gross profit margins have stabilised following the declines seen in 2017,' the company said.
At June 30, net debt had decreased by $5.2m to $25m.
At 8:18am: (LON:TCM) Telit Communications PLC share price was -0.5p at 154.5p
Story provided by StockMarketWire.com