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LONDON (Alliance News) - BATM Advanced Communications Ltd on Tuesday expressed confidence in delivering improved results for 2015, as momentum it saw towards the end of 2014 has continued into the new year.
Its revenue continued to be hit by the strength of the dollar against the euro, Moldavan leu and Romanian new leu, although BATM said this was "immaterial" in terms of its operating profit as expenses are mostly in the same currency as revenue, and it has reduced expenses.
The company said its Bio-Medical division's Diagnostics business moved to profit for the first time due to doubled sales of its reagents. It's Pathogenic Waste Treatment Sterilisation and Distribution businesses are expected to show improvement in their first half compared to the previous year.
Its Telecom division is expected to deliver improved results for 2015 as it continues to maintain costs and reduce operating expenses. It has continued to wind down its legacy products business, although this was offset by increased sales in Internet Protocol products.
Shares in BATM are trading up 2.0% at 12.75 pence Tuesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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