Batm Advanced Share News (BVC)

BATM Advanced Communications posted an improved set of half year results after growth in both its Telecom and Medical divisions and expects to report higher revenues and EBITDA for the year. The group, which designs and produces telecom systems and medical laboratory diagnostic systems, said gross profit rose to $20.2m for the six months ended June 30th 2013 from $19.2m a year earlier. Gross margin improved to 35.6% from 34.2% while revenue rose to $56.8m from $56.1m. Chief Executive Officer Dr Zvi Marom said: "Despite the challenging trading conditions in many markets... The Telecom division continued to win new customers for its new flagship products and the main growth engine of the Medical division, the diagnostics business, continued to progress with regular sales in the major emerging markets including China." "Looking ahead, the Telecom division is making good progress as revenues from the T-Metro 8000 platform continue to grow. The issues highlighted in our trading update in June are behind us with orders in the Medical division having normalised and are now being delivered according to our expectations." BATM added that its Medical division had less reliance on the distribution business as it increases contribution from the diagnostics business. CJ