BATM Advanced Communications Ltd - Israel-based networking technology and medical lab systems - Pretax profit rises 19% to USD726,000 in first half of 2023 from USD611,000 a year before. Revenue rises by just 4.7% to USD60.2 million from USD57.5 million, but BATM swings to net finance income from expense. On an adjusted basis, pretax profit doubles to USD2.3 million from USD1.0 million. Says strategic review conducted during the recent half-year established the Networking, Cyber and Diagnostic lines of business as BATM's core activities, with divestment of the Distribution and Eco-Med businesses possible. Looking ahead, BATM said it expects to report growth for all of 2023 in line with market expectations. Says it enters the second half of the year in a better position in terms of revenue momentum and backlog than a year before, with all business units expected to see revenue increases in the second half.
Current stock price: 26.00 pence
12-month change: down 9.3%
By Tom Waite, Alliance News editor
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Batm Advanced (BVC)