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BATM Advanced Communications HY Profit Climbs

BATM Advanced Communications Ltd. (BVC.L) reported that its net profit after tax attributable to equity holders of the parent for six months ended 30 June 2021 climbed to $12.0 million or 2.70 cents per share from $1.6 million or 0.36 cents per share in the prior year.

Total Group revenue for the first half of 2021 declined to $71.4 million from $77.4 million last year.

The company said it entered the second half of the year with a strong order book and it expects to achieve significant full year revenue growth from ongoing operations, excluding the contribution from NGSoft and the exceptional ventilator contract that was delivered last year. 

The company expects revenue for full year 2021 to be about 5% ahead of market expectations. It anticipates full year EBITDA to be more than 20% ahead of market expectations, reflecting growth in EBITDA of over 40% year-on-year.

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