Pakistan Technology: AVN/OCTOPUS: Analyst Briefing Key Takeaways – By Foundation Research

<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Avanceon Limited (AVN PA) and Octopus Digital Limited (OCTOPUS PA) held a combined Analyst briefing session yesterday to discuss the financial/operational performance of CY22 and future outlook of the company. Following are the key takeaways of the briefing.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Avanceon Group of Companies has business backlog of US$61mn as of Jan 1&rsquo;23.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Revenues are recognized under IFRS-15. Company has opted for cost of completion method and obligation ownership transferred. Management states that company Revenue Recognition policy is even more conservative than accoun...