CyanConnode Holdings plc saw turnover rise 31% to £7.4 million in its latest half-year – despite revenues from a new £70m contract being yet to commence.

The global provider of IoT communication and smart metering solutions said its DigiSmart subsidiary in India had secured a ‘landmark’ first contract as an advanced metering infrastructure service provider with the Government of Goa.

The April deal materially strengthened the group’s contracted order book, which remains robust at approximately £157m.