AGM Statement

17 Jun 2009 07:00



17 June 2009

BATM Advanced Communications Limited

AGM Statement

At the AGM of the Company, which is due to be held at 11am today, Peter Sheldon, Chairman of BATM, will make the following statement: 

"I would like to take this opportunity to update shareholders on the continued progress that we are making in the current financial year. Despite the very challenging market conditions, the current pattern of our trading and forward order book gives us confidence that we will achieve our targets for the year. 

"The first half of the last financial year was exceptionally strong, benefitting from increased business from the Olympic Games.  In comparison, in the first half of the current financial year we expect to achieve a level of revenues broadly similar to the more representative second half of last year, albeit with a slightly lower level of profitability due principally to foreign currency fluctuations.  The Company continues to deploy its products in numerous projects around the globe and has achieved several recent important contract wins. There has been a noticeable improvement in the Company's order book in the last couple of months, particularly relating to increasing business in the Far East. 

"Our programme of integrating the newer acquisitions with the rest of Group is realising synergies in all of our business lines. We continue to innovate in the Telecoms, Medical Devices and Surveillance fields, and to offer our existing and new customers technologically superior product offerings.

"I hope that shareholders will increasingly recognise that the investments that we have made in technology, infrastructure and, most importantly, our customers during these challenging times have been well judged and we expect these investments to continue to strengthen our prospects for the future.

"I would like to congratulate the whole BATM team for their dedication, enterprise and innovation that has enabled the Company to reinforce and maintain the position that it now enjoys."

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