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Telecoms and utility software group IQGeo said it expected to deliver 'material improvements' in full-year cash flow amid ongoing subscription revenue growth.
For the six months ended 30 June 2020, pre-tax losses narrowed to £1.68m from £3.2m on-year as revenue increased to £4.7m from £3.6m.
The company said it expected continued progress in H2 as order growth would continue to boost revenue.
'For the remainder of 2020 we expect software subscription orders to continue their positive growth trend,' the company said. 'The 2020 full year results are expected to see continued improvement in subscription orders generating increases in revenue and gross margins over 2019 and materially reduced operating cash outflow.'
'As we move into 2021, operating cashflow is expected to continue to improve, with good sales momentum building our base of subscription revenues in relation to operating costs,' it added.
At 9:49am: (LON:IQG) share price was 0p at 67p