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14.80 0.25 (1.72%)

Bid:

14.60

Ask:

14.85

Spread: 0.25 (1.712%)

Market Cap: £50.33m

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BATM slides heavily

Tue, 18th May 2010 12:40

Telecoms firm BATM slid heavily after it saw revenues in the first quarter fall and said it expects to break-even for the first six months. Total revenues in the first four months of 2010 were $36m against $38.9m last time. "The decrease is due to a significant decline of revenues during the period from a major OEM channel in the Telecom division, as compared to those in the equivalent period in 2009," said the group.It said this has been somewhat offset by growth in other areas, and from April onwards, it has seen positive signs in its business. "Due to the substantial impact of the OEM customer decline coupled with the weakness of the Euro, we currently expect to be broadly break-even for the first six months," it said "For the year as a whole, management are encouraged by the recent positive signs in the business, and remain cautiously optimistic that BATM will meet its revenue targets for the full year."