(Alliance News) - BATM Advanced Communications Ltd on Thursday said it is on-track to report a 2021 performance ahead of market expectations, fostering further confidence in its growth prospects for 2022.
Shares in the Israel-based networking technology and medical lab systems provider were 7.1% higher at 52.79 pence on Thursday in London.
Specifically, BATM expects earnings before interest,tax, depreciation and amortisation and revenue to be ahead of market expectations, due to strong growth from both of the company's divisions, particularly in the Diagnostics unit of the Bio-Medical division.
In August, the group said that Ebitda was expected to be more than 20% ahead of market expectations and revenue 5% ahead of consensus.
For 2020, BATM's Ebitda came in at USD19.7 million, while revenue was USD183.6 million.
Looking ahead, the group said it has entered 2022 with a substantially higher backlog from ongoing operations compared to the prior year. As a result, BATM expects to deliver significant growth for 2022.
BATM Advanced Communications will post its annual results on February 28.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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