go read the interims27 Feb 2020 16:03
Bio-Medical Division (54% of total revenue)
· Revenue of $30.2m (H1 2018: $29.6m)
· Blended gross margin of 23.6% (H1 2018: 24.8%)
· Distribution Unit
o Strong growth in provision of cancer diagnostics tests in Israel, and received regulatory approval to offer further molecular genetics tests
o Increase in revenue under contract with a large medical facility in Eastern Europe for diagnostic instruments and reagents
o Doubled the number of pre-natal diagnostic tests provided by the Group's laboratory in Eastern Europe
· Eco-Med Unit
o Completed installation of large agri-waste treatment solution at a bovine slaughterhouse
o Commenced delivery on first agri-waste treatment contract outside of Israel with a major food manufacturing group in the Philippines
· Diagnostics Unit
o Advanced engineering of NATlab through the Ador joint venture and established partnerships with several leading research institutions; signed conditional investment agreement for up to $30m, with first instalment of $14.5m received during the period; first instruments to be installed in hospitals this year
o Increased sales of new highly-compact metabolism testing analyser, Hemo One
o Sustained growth in sales of new molecular biology diagnostics Adaltis product line, and introduction of new reagents
Networking and Cyber Division (46% of total revenue)
· Revenue of $26.0m (H1 2018: $28.6m)
· Blended gross margin of 32.4% (H1 2018: 32.8%)
· Networking Unit
o Substantial progress under partnership with Arm to expand the Group's NFVTime ecosystem optimised for Arm infrastructure:
§ Developed new technology to enable significant increase in network traffic when licensing NFVTime on certain NXP Semiconductors processors
§ Entered into a strategic technology partnership with Clavister, a leader in high-performance cybersecurity solutions, to run its virtualised platform optimised for Arm-based infrastructure on NFVTime
o Commenced generating revenue from sales of the Group's NFV products, which is expected to ramp up from H2 2019
o Post period, launched T-Metro 8104, a new ultra-high capacity service aggregation and cloud gateway platform that is NFV-ready and is designed to leverage 5G and Multi-access Edge Computing (MEC)
o Built strong backlog that is being delivered in H2 2019
· Cyber Unit
o Strong increase in revenue under previously-awarded contracts and received new orders worth $8.5m that are expected to be delivered during H2 2019:
§ Two orders totalling $6.5m from an existing government defence department customer
§ Initial $2m contract with a branch of a national armed forces, a new customer, for a new combined cyber security and networking solution
Outlook
· Entered H2 2019 with a substantially higher order book
· Networking and Cyber division expected to deliver significantly higher revenue in H2 2019 compared with H1 2019
· Ramp-up in NFV-related revenue
· First NATlab instrumen
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