Mti Wireless Share News (MWE)

(Alliance News) - MTI Wireless Edge Ltd on Monday said its core business remained "strong" as it lamented "a period of extremely difficult conditions in Israel".

The Israel-based communication and radio frequency technology company said pretax profit was virtually flat at GBP4.8 million in 2024.

Revenue was virtually flat at GBP45.6 million.

The company said its core business remained "strong," citing three well established and well-led divisions focused on three "substantial" growth markets.

MTI Wireless noted that the war in Gaza "has led to a slowdown in the Israeli economy and if this war continues for a prolonged period, then it may begin to impact the company. The wide usage of military reserve personnel, adverse foreign currency exchange rates and restrictions on access to certain areas in Israel are risks which may affect the company if there is a prolonged period of war."

The company raised its final dividend by 6.5% to 3.3 US cents from 3.1c a year prior.

Chief Executive Officer Moni Borovitz said: "We are proud of these results which show good progress during a period of extremely difficult conditions in Israel. The business again proved its resilience, operating largely as normal and our target end-markets remain buoyant. In particular, the increase in defence budgets worldwide and the opening of the Indian market for E-Band 5G backhaul present substantial opportunities for us over the medium term."

MTI Wireless said its share buyback programme will continue until the end of March 2026, which reflected its "strong confidence in the business' prospects".

Looking ahead, Chair Zvi Borovitz said: "2025 has undoubtedly started well for the company with an increased backlog and pipeline of opportunities across all of our three divisions. We are therefore looking forward to delivering a year of growth and increased returns for our shareholders."

MTI Wireless shares fell 12% to 60.10 pence each late Monday morning in London.

By Tom Budszus, Alliance News slot editor

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