Ava Risk Group H1 FY24 Results Announcement

Ava Risk Group Limited (ASX: $AVA) has released its half year results for the six months ended 31 December 2023. The company reported a record group sales order intake of $19.7 million, marking a 37% increase from the previous year. Additionally, the group revenue grew by 4% to $14.2 million. The significant orders in major infrastructure projects in Australia and Latin America, along with a major supply agreement with Telstra Group, were key highlights of the announcement.

Executive Commentary on H1 FY24 Results

Ava Risk Group CEO Mal Maginnis expressed satisfaction with the company's performance, stating, 'In the first half, we have pursued growth and this forward investment has paid off nicely, producing record sales orders and a very solid backlog. We are pleased with the strong sales momentum in the first half, which provides confidence in the outlook for FY24 and beyond.' Maginnis also highlighted the successful investment in technology and commercial capabilities, emphasizing the benefit of the changes made to the commercial team and product offering over the past year to drive growth. He further added, 'I believe we are well placed to continue our growth trajectory during H2 FY2024.'

Summary of H1 FY24 Results and Outlook

Ava Risk Group's H1 FY24 results showcased a record sales order intake and a significant supply agreement with Telstra Group, reflecting the company's strategy to grow revenue from its market-leading technologies. The CEO's positive outlook for FY24 and beyond, along with the forecasted revenue of $16-20 million for H2 FY24, indicates the company's confidence in its growth trajectory. The strong sales momentum, successful investment in technology, and the solid confirmed order backlog position Ava Risk Group for continued growth in the coming months. With a focus on increasing market share and developing new applications, the company aims to capitalize on large scale opportunities and expand into new markets, demonstrating its adaptability and versatility in the industry.