StockMarketWire.com - BATM swung to a profit in the first half of the year as lower costs eased the impact of a slight decline in revenues amid weaker growth in its networking and cyber division.
For the six months ended 30 June, the company reported a pre-tax profit of $1.18m, compared with a loss of $1.31m a year earlier, while revenue fell 3.4% to $56.22m.
Total operating expenses fell to $14.15m from £17.76m a year earlier.
The slight reduction in total revenue was due to lower sales in the networking and cyber division whilst sales in the Bio-Medical division increased over the first half of the year, the company said.
The £14.1m fundraise supported the group's balance sheet as BATM geared up for the expected ramp up in sales from second half of 2019.
'As a result of the strong backlog, BATM is on track to deliver significantly higher revenue in H2 2019 - its seasonally stronger period - compared with H1 2019, along with improved margins,' the company said. 'Consequently, the Group expects to report good growth for full year 2019, in line with the Board's expectations.'
Story provided by StockMarketWire.com
Shares Magazine
Shares is the leading weekly publication for retail investors. It is packed with investment ideas, news and educational material to help build and run portfolios and get more from your money.
Investor Events
Shares puts on free Investor Events throughout the year across the country. They provide an opportunity for investors to learn more about companies on the stock market and hear from a range of investment experts including fund managers and Shares journalists.