IQGeo Group expecting continued expansion during the second half

–News Direct–

IQGeo Group PLC (AIM:IQG) chief executive Richard Petti and chief financial officer Haywood Chapman speak to Thomas Warner from Proactive after releasing a trading update on the software developer's performance during the first half of 2023.

Chapman gives an overview of the update, highlighting several major new contract wins, before Petti goes on to reveal more about prevailing market conditions in the company's core telecommunications and utilities markets. He notes that demand for fibre networks is particularly high in North America, where significant investments are being made.

Moreover utilities, especially those focusing on resiliency and renewable energy, are also contributing to IQGeo's growth. He goes into more detail about the new contract wins in Germany and Japan, saying that the expansions demonstrate the effectiveness of their product and integration strategies.

Looking ahead, Chapman and Petti both express confidence about the second half of the year and beyond, highlighting their large customer base, increasing revenues from expansions, and a promising order intake. Chapman says that he expects “to do at least what we've done in the first half of the year and hopefully more.”

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