Cordel’s trading update for the 12 months to June has reported revenue in-line and cash ahead of the 9 June update. As expected, +8% revenue growth to £4.8m is composed of a greater proportion of recurring software revenue year-on-year, leading to an improved 70% gross margin vs FY24’s 64%, while net cash +36% ahead at £1.5m (was £1.1mE) is driven by earlier-than-anticipated receivables receipt. FY25 has been a transformational year of customer referenceability with the addition of five new logo ....
