Calnex Solutions PLC on Wednesday said that while customers continue to be cautious with investment decisions, engagement levels remain high and there are optimistic signs regarding the pipeline for financial 2024.

The West Lothian, Scotland-based company provides test and measurement solutions to the telecommunications sector.

Calnex said it was optimistic about the pipeline for the second half of financial 2024, although the precise timing of orders remains unclear. Indicators across the wider industry also point to a cautiously improving outlook.

The company’s board remained confident in the delivery of results for the year in line with current market expectations. It didn’t specify what these expectations were.

Calnex added that its ability to source the components required for its products continues to improve and, whilst not yet resolved, its performance in financial 2024 is not expected to be impacted by procurement issues.

‘The breadth of the company’s customer base across multiple regions, and the group’s expanding product portfolio and strong balance sheet, mean the board looks to the future with continued confidence,’ Calnex said.

Calnex shares were trading 0.4% lower at 136.00 pence each in London on Wednesday afternoon.

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