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BATM Advanced Communications Turns To Profit In H1 - Quick Facts

BATM Advanced Communications Limited (BVC.L) said it delivered a good performance in the first half of the year, with increased sales. Looking forward, the Group projects good growth for full year 2019, in line with the Board's expectations. The Group entered the second half of 2019 with a substantially higher order book.

For the first-half, profit to owners of the company was $0.6 million compared to a loss of $1.4 million, prior year. From continuing operations, profit per share was $0.14 compared to a loss of $0.35. Adjusted operating profit was $1.6 million compared to a loss of $0.6 million. This includes a capital gain of $3.2 million, for the current year period.

First-half revenue declined to $56.22 million from $58.20 million, a year ago. On a constant currency basis, revenue was $58.4 million, for the period. The Bio-Medical Division, which recorded 54% of total revenue, reported an increase of 2.1% in revenue to $30.2 million from $29.6 million, primarily due to growth in the Distribution unit. On a constant currency basis, the Bio-Medical division revenue growth was 7.8%, for the period.

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