Aurrigo set to fly as aviation division grows wings
Coventry-based transport tech firm Aurrigo International has seen losses widen as it spends large on building its autonomous and aviation division.
Revenue at the company rose by 35% to £3.1m for the six months to June 30, while it posted an adjusted EBITDA loss of £1.6m – up from a deficit of £300,000 last year. Gross profit, however, remained at £700,000 for the period.
Aurrigo says its autonomous and aviation division is making “good progress” after the announcement in February of a partnership with Changi Airport Group – and that the acquisition of GB Wiring Systems in June is “integrating well”.
David Keene, CEO of Aurrigo International, said: “We saw good progress during the first half of the year, engaging with both new and existing customers and partners. I believe that we have now developed in the Auto-DollyTug mk3 a vehicle that will revolutionise operations at airports internationally.”
“Interest from aviation organisations and airport groups in our solutions and the ability to showcase the capabilities of our technologies on the ground has been invaluable. We are now seeing an accelerated level of interest in Aurrigo’s innovative aviation solutions for future deployments within Europe and North America.”