AdEPT Technology Group PLC (LON:ADT) said a strong end to the fourth quarter had continued into its current financial year.
Phil Race, chief executive, added: “The momentum gained by the Group in Q4 FY21 has continued into Q1 FY22 with sales and margins in the new financial year to date firmly in line with market expectations.”
Race added that its new integrated telecoms system, ONE AdEPT, is at the heart of its plans, and will give it a scalable platform for growth.
Revenue in the year to end march was £57.9mln (£61.7mln) while underlying profits dropped to £9.8mln from £11.7mln and after costs, non-cash items and interest, there was a loss of £505,000 (profit: £1.97mln).
AdEPT said it was also too early to restore the dividend and will give a further update with the half-year results.
Race added: “While the pandemic temporarily interrupted the trajectory of our growth, the board is pleased with the progress achieved under challenging circumstances.
“We are confident that the opportunities for the group remain strong, in a vibrant technology market, with demand for effective ICT services at an all-time high and likely to remain so.”
Shares dropped 5% to 289p.