Cordel Group: Edison

Apr 3, 2024

Software and comp services - AIM - Mcap: £7m - Price: 3.5p - Flash

Cordel Group (CRDL)

Positive steps towards ambitious FY24 goals
Cordel’s Q324 update shows progress towards the group’s FY24 revenue expectation and other objectives, supporting our forecasts. Doubling the customer base by year-end is a key milestone, which encouragingly looks set to come in part from tier-one US railroads, offering the greatest scope for large seven-figure contracts from its target markets. Developments with Amtrak, as Cordel moves to the five-year service phase, and Angel Trains in the UK provide positive indicators for stable recurring revenue and upsell opportunities. Top-line progress is supported by investments already made in sales and delivery, underpinning forecast margin expansion.

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Analyst

Max Hayes
Technology analyst
tech@edisongroup.com

Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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Cordel Group: Edison

Cordel Group (CRDL)

Analyst