Allenby Capital: MTI Wireless Edge Ltd Interims

Interims from MTI Wireless Edge, the technology group focused on comprehensive communications and radio frequency solutions, saw further good growth in Antennas (+22%), a return to growth at Mottech (+8%) and an improvement at MTI Summit/PSK (-4%). As a result, group revenue increased 8% to $24.1m. Each division remained profitable and EBIT increased 11% to $2.5m while PBT was flat at $2.3m. Basic EPS +17% to 2.50 cents, reflecting lower tax and share repurchases, and operating cashflow +66% to $2.5m with cash of $5.5m, post the FY24 dividend. MTI benefits from its diversified business model and entered H2 with a strong order book and sales pipeline despite the ongoing conflict in Israel. The company provides exposure to three global gro...