SOCO Posts Higher Preliminary Revenue in Fiscal H1; Flags Weak Government Demand

MT Newswires Live

2025/02/07

Information technology consultancy company SOCO (ASX:SOC) reported preliminary revenue of AU$11 million for the fiscal first half ended Dec 31, 2024, up from AU$9.3 million a year earlier, according to a Thursday filing with the Australian bourse.

The company signed AU$18 million worth of contracts by October 2024, but some of them have been delayed. It also warned against the impact of lower government demand due to a policy shifting work to public servants.

The company expects to report full fiscal-year revenue of AU$22 million to AU$24 million, down from prior expectations but up from the year-earlier's AU$20.5 million.

Price (AUD): $0.09, Change: $-0.034, Percent Change: -27.20%

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