H1 trading has been unexpectedly strong, driven by growth in deliveries of LTE products in North American markets, as well as a ramp up of new designs and strong demand for connectivity capabilities. Margins have held up well and cash conversion seems to have been very strong. On the back of this encouraging performance, we are upgrading our FY earnings expectations from 4.9c to 6.1c.
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Telit - IoT services and connectivity drive strong H1
- Published:
11 Jul 2018 -
Author:
Cavendish Research -
Pages:
3
H1 trading has been unexpectedly strong, driven by growth in deliveries of LTE products in North American markets, as well as a ramp up of new designs and strong demand for connectivity capabilities. Margins have held up well and cash conversion seems to have been very strong. On the back of this encouraging performance, we are upgrading our FY earnings expectations from 4.9c to 6.1c.