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Remote tracking technology company Starcom said that it was on track to grow it annual revenue and earnings in line with expectations.
The company said growth would be achieved as its pipeline of new opportunities, underpinned by recurring and steadily growing software-as-a-service revenues gradually translated into increased orders in the second half.
'In this pipeline, the company is seeing increased interest in the newer, more unique and higher margin products in the Tetis and the Kylos range,' Starcom said in a trading update for its AGM.
'The current level of pipeline activity is significantly higher than the company has experienced in the past and, having recently strengthened the board and its advisory team, the board is satisfied that it is on the right track to meet its growth targets for this year and future years,' Starcom said.