Calnex returns to profit and monitoring US tariffs – Daily Business

Calnex Solutions, the Linlithgow-based telecoms testing company, said it has returned to profit and revenue growth in line with market expectations, despite the ongoing challenges.

The AIM-quoted company has seen 12% growth in revenues to about £18.3m (FY24: £16.3m) and an improved gross margin, reflecting the increased revenue volumes and product mix in the year.

Cost control measures taken through the year have also contributed to the group’s return to profit.  The balance sheet remains robust, with cash as at 31 March 2025 of £10.9m. This is £2.3m ahead of the cash position at the half year, reflecting a strong second half of cash generation. 

Growth has been driven by successful execution of the product expansion strategy, having adjusted engineering programmes to focus on areas of the telecoms, cloud computing and defence markets showing the most near-term growth potential.

Calnex has brought in new partners covering North America, Europe, India, and Asia-Pacific. It said that broadening the partner base has given it the opportunity to expand the sales coverage previously enjoyed with Spirent Communications.

The board is monitoring the effects of proposed US tariff arrangements and will work with customers and partners to navigate the new landscape.

It said it is confident of continued growth in FY26 driven by further demand for Calnex’s recently launched products. Results for the year ended 31 March will be published on 20 May.

Tommy Cook, chief executive, said: “We are pleased to report a return to growth in FY25, driven by execution of our product expansion strategy and progress into new markets.”

He hailed the strength of the product portfolio and market positioning.

“With a newly established partner network that is working well, a healthy balance sheet and order momentum building, we are well-placed to capitalise on our near-term growth opportunities.”