Connxion (ASX:CXN) raises FY10 revenue forecast

Connxion (ASX:CXN) raises FY10 revenue forecast

Data and transaction services company Connxion Ventures (ASX:CXN) has raised its revenue forecast for FY10 to $12.6 million.

The renewed forecast is a 14.5% improvement on the company's previous forecast of $11 million, and three times the company's FY09 revenue of $3.9 million.

The expected increase in revenue will have a corresponding effect on ebitda, Connxion said, but the company did not elaborate.

Connxion is forecasting revenue of $38 million for FY11, but said this figure does not include any potential added earnings from its recently-announced JV agreements in China.

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