Antenna maker Sarantel said that it is progressing on its path to reach break-even after an impressive rise in revenue in the second half.
Revenue in the six months to September 30th was 160% higher than the first half, helped by a 62% increase in unit sales. As a result, full-year revenues are expected to be up 35% year-on-year at £3.0m.
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Chief Executive David Wither said: "Sales growth in the second half has been encouraging and we continue to focus on the progress required to reach break-even. We remain confident about the longer term prospects for Sarantel's technology as our GeoHelix antennas deliver a level of positional accuracy and reliability essential for a rapidly growing number of location-sensitive applications.
"Our growth potential is currently restrained by our limited sales and engineering resource. However, our leading-edge technology positions us well to benefit from increasing military demand for safety critical applications, along with growth in mobile social networking and location-based advertising in the consumer market."
Sarantel had cash balances of £0.1m by the end of the fiscal year.
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