IXICO surges on trading update

Shares in AIM-listed data analytics firm IXICO (LON:IXI) have shot upwards 20.30% to 83.01p (as of 14:15 BST) after saying that revenues for the year ending 30th September would be up by more than 20%. Management also believe that EBITDA will be ahead of market forecasts.

CEO Giulio Cerroni commented: “We are delighted to see continued momentum in the accessing of revenue driven operational leverage, building on the Company’s maiden year of profitability in 2019 and strong first half year results to 31 March 2020. In the context of the challenging market environment created by Covid-19, this increase in profitable growth, alongside our strong balance sheet and positive operating cashflows, whilst remaining fully committed to our investment plans, is a fantastic achievement“.