BATM Advanced Communications Annual Profit Rises

BATM Advanced Communications Limited (BVC.L) on Monday said its profit before tax increased 87.5% for the full year to $24.93 million from $13.3 million a year ago.

The company posted profit of $14.34 million or 3.23 cents per share for the year, higher than $9.79 million or 2.21 cents per share last year.

Reported revenue was $140.04 million for the full year, a decline from $183.57 million in the prior year.

However, revenue from ongoing operations increased 18% to $132.8 million from $112.6 million in the previous year, helped by revenue growth in all segments.

EBITDA, or earnings before interest, taxes, depreciation, and amortization, from ongoing operations increased by 138.8% to $15.7 million from $6.6 million a year ago.

On a reported basis, EBITDA grew 50.4% year-over-year to $29.6 million.

Looking forward, BATM said, "The Group entered the new year with a substantially higher backlog for ongoing operations than at the same point the prior year and is continuing to experience sustained momentum across the business. Accordingly, the Group remains on track to deliver significant growth for full year 2022 in line with market expectations."

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