The Linlithgow-based company’s growth in profits comes on a 37.6% increase in revenues. The firm reported £12.7m in revenues for the six month’s ended 30 September 2022, up from £9.3m for the same period last year.

An interim dividend of 0.31p per share has been declared and will be paid in December.

Tommy Cook, CEO and founder of Calnex, said: “We are pleased to deliver a strong financial performance during the period, significantly increasing revenue and profit, while continuing to invest in our team’s capabilities and offering. We were delighted to successfully complete the integration of the iTrinegy team into the Group during the period.

“Whilst it is sensible to look to the future with a degree of caution given the continuing component shortages and global macro-economic challenges, the Company’s positive trading performance during the period and proven ability to manage component shortages underpin the Board’s confidence that the Group’s performance for FY23 will be in line with market expectations.

“The breadth of our customer base across multiple regions, ongoing successful expansion of the team and offering, and wealth of industry connections combine to place Calnex in
a strong position to continue to benefit from the underlying long-term growth drivers in the telecoms and cloud computing markets.”