- Networking solutions company BATM upgraded its outlook on annual performance after reporting higher profit in the first half of the year, driven by strong demand for diagnostic products.

For full year 2021, the company said it expects revenue to be approximately 5% ahead of market expectations, with 'full year EBITDA to be more than 20% ahead of market expectations, reflecting growth in EBITDA of over 40% year-on-year.'

The upbeat forecast came as the company reported higher profit as higher margins offset a fall in revenue.

For the six months ended 30 June 2021, pre-tax profit jumped to $19.8 million from $1.9 million year-on-year, even as revenue fell 7.7% to $71.4 million. The gross margin for the first half improved to 36.0% from 29.7% last year.

The company said it entered the second half of the year with a 'strong order book and it expects to achieve significant full year revenue growth from ongoing operations (excluding the contribution from NGSoft and the exceptional ventilator contract that was delivered last year).'

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