Technology company BATM Advanced Communications Ltd. (BVC.L) on Monday reported a wider loss in fiscal 2024, impacted by loss from discontinued operations and one-time impairments. Revenues, however, rose from last year.
The company posted pre-tax loss of $5.38 million in fiscal 2024, compared to pre-tax profit of $2.73 million a year ago. On an adjusted basis, profit before tax was $3.0 million, in contrast to profit before tax of $5.9 million last year.
The company's loss for the year widened to $22.25 million or 5.11 cents per share, from $200 thousand or 0.05 cents per share in the prior year.
Annual revenues came in at $117.34 million, higher than last year's $116.73 million recorded in fiscal 2023.
EBITDA for the year declined to $7.1 million from $7.4 million a year ago. Adjusted EBITDA also fell to $8.1 million from $9.9 million in the previous year.
Looking ahead, the company said that its Board is actively pursuing M&A and disposal opportunities, which will help the Group to accelerate execution on its growth strategy in all its core divisions.
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