StockMarketWire.com - Antenna specialist MTI Wireless Edge said its profit in the year to date had risen 44%, on the back of increased orders at all three of its business units.

Pre-tax profit for the nine months through September had risen to $2.3m, up from $1.7m on-year.

Revenue had climbed 12% to $29.0m.

The company had seen significant growth in its order book across all three of its business divisions, antennas, water control and management and distribution and professional consulting services, chief executive Moni Borovitz said.

'We continued to perform in accordance with our business plan, delivering significant revenue growth and increased profitability, whilst at the same time converting this growth into operating cash flow,' he added.

'Key drivers for the business are showing positive trends, including the demand for efficient water management solutions, increased defence budgets and the demand for broadband, provide us with confidence in meeting our goals of increasing revenue, profits and free cash flow,' Borovitz said.


At 8:17am: [LON:MWE] MTI Wireless Edge Ltd share price was +1.5p at 36.5p



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