Telit Communications PLC announced net debt results for the half year ended June 30, 2018. As on June 30, 2018, net debt was $25 million against $30.2 million as on 31 December 2017, decreased by $5.2 million.

For the year, revenue is expected to be in the order of $201 million compared with $177.6 million a year ago, an increase of 13.2% year-on-year, with a revenue contribution from Telit's connectivity and IoT platforms services in the order of $16.5 million, up 16.2% compared with $14.2 million a year ago.