StockMarketWire.com - Networking solutions company BATM Advanced Communications said revenue and core earnings would be 'materially' ahead of market expectations following strong growth in its bio-medical division.

As a result of the considerable growth in the Bio-Medical division, which has more than offset any loss of revenues in the networking & cyber division, BATM now expected to 'report a substantial increase in fiscal 2020 revenues, at least 25% higher than FY 2019 and materially higher than market expectations,' the company said.

It also expects to report earnings (EBITDA) 'significantly' ahead of market expectations.

The growth in the Bio-Medical division was led by the substantial investment the group had made in recent years to build a diagnostics platform.

'As a result, this division was able to respond rapidly when it was first alerted to the potential outbreak of COVID-19,' BATM said.

During the first half of 2020, an order of €29m from a European government to provide 1,000 critical care ventilators. The company said it had made 'significant progress' towards completing the delivery of the contract on time.




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