Seeing Machines up as it beats expectations

AIM-listed vision technology firm Seeing Machines (LON:SEE) saw its share price climb by 6.71% to 3.31p (as of 13:30 BST) after reporting that it was trading ahead of consensus guidance for the year ended 30th June. Total revenue for the period is expected to be up by 8.5% despite the difficult market conditions linked to the COVID pandemic.

CEO Paul McGlone commented: “We are pleased with our results given the unique challenges we faced in the second half of FY2020. Our business is focused on transport industries and it is clear that the sector has been under unprecedented pressure since COVID-19 emerged. Notwithstanding this, we have continued to make progress and that is a testament to the hard work of our team and has reaffirmed the importance of our mission which is to keep people safe and reduce transport related accidents“.