StockMarketWire.com - Antenna company MTI Wireless Edge said year-to-date operating profit had grown 11%, underpinned by demand for 5G antenna solutions.

Operating profit for the nine months through September had risen to $3.33 million, up from $2.99 million year-on-year. Revenue climbed 8% to $32.1 million.

'Demand continued to grow for 5G backhaul antenna solutions and antennas for RFID, resulting in revenue growth in the antenna division, leading to all three divisions of the business growing year on year in the period,' the company said.

Chief executive Moni Borovitz said MTI Wireless Edge was well placed to achieve a 'good result' for the full year.

'Looking ahead, we believe that the company's clear focus on providing radio frequency solutions coupled to being diversified across several markets positions us well to continue to grow and expand through a mix of acquisition-led and organic growth,' Borovitz said.


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