BATM Advanced Communications said Tuesday first-half losses before tax narrowed supported by double-digit revenue growth amid upbeat performance in its networking and cyber division.
For the six months to the 30 June, the company reported a loss before tax of $1.31m, compared with loss of $2.26m a year earlier, and revenue rose 16.9% $58.2m.
Growth in group revenue was led by the Networking and Cyber division, with a significant increase in sales of ICT solutions and services as well as substantial progress being achieved in the execution of its SDN and NFV strategy, the company said.
Earnings (EBITDA) swung to a positive $0.5m, compared with a negative $0.3m from a year earlier.
The company said it was 'confident' of achieving year-on-year growth for full year 2018, in line with market expectations.
'In the first half of 2018 we've seen sustained momentum in all our areas of activity, which is increasingly reflected in our numbers with growth in sales and positive EBITDA,' said Dr Zvi Marom, Chief Executive Officer of BATM.
'In the Networking and Cyber division, we significantly progressed the development of our NFV ecosystem, which is designed to support an entirely virtualised network infrastructure - which is key for the implementation of 5G technologies and to run applications such as autonomous vehicles.' At 8:45am: (LON:BVC) BATM Advanced Communications Ltd share price was +0.1p at 41.2p