BATM Advanced Communications Ld Trading Update (2024F)
19 February 2018 - 6:00PM
UK Regulatory
TIDMBVC
RNS Number : 2024F
BATM Advanced Communications Ld
19 February 2018
LEI: 213800FLQUB9J289RU66
19 February 2018
BATM Advanced Communications Limited
("BATM" or "the Group")
Trading Update
FY 2017 results expected to be ahead of market expectations
BATM Advanced Communications Limited (LSE: BVC), a leading
provider of real-time technologies for networking solutions and
medical laboratory systems, provides the following update on
trading for the year ended 31 December 2017 ahead of the
publication of the Group's full year 2017 results on 5 March
2018.
The Group had a very successful second half of the year with
both of its divisions gaining new customers, securing new contracts
and expanding into new territories. As a result, the Group expects
to report revenue for the year ended 31 December 2017 significantly
ahead of market expectations at approximately $106m, representing
year-on-year growth of approximately 17%. The Group also expects to
report EBITDA of approximately $7.0m (2016: $2.8m). The 2017 EBITDA
includes the benefit of profits on disposal of a wholly-owned
building in December 2017 of approximately $5.6m (2016 EBITDA of
$2.8m included the benefit of profits on disposal of another
building of approximately $3.1m).
The increase in revenue was driven by growth in both of the
Group's divisions. The Networking & Cyber division generated
significantly better-than-expected sales largely due to growth in
the Group's existing ICT services and solutions business as well as
its success in implementing its strategy to leverage the telecom
industry transition from hardware to Network Function
Virtualisation ("NFV") and Software-Defined Networking ("SDN").
During the period, as previously announced, the Group established
partnerships with a number of leading telecoms and semiconductor
companies such as NXP and ARM, with the respective partners
offering joint solutions for NFV/SDN. Revenue growth in the
Bio-Medical division was driven by stronger sales in the
distribution unit, mostly based on diagnostic and molecular biology
products and services.
Further details will be provided in the Group's full year
results announcement on 5 March 2018.
Enquiries:
BATM Advanced Communications
------------------------------- -----------------
Dr Zvi Marom, Chief Executive
Officer +972 9866 2525
------------------------------- -----------------
Moti Nagar, Chief Financial
Officer
------------------------------- -----------------
Shore Capital
------------------------------- -----------------
Mark Percy, Anita Ghanekar +44 20 7408 4050
------------------------------- -----------------
Luther Pendragon
------------------------------- -----------------
Harry Chathli, Claire Norbury +44 20 7618 9100
------------------------------- -----------------
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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