News Column

BATM Advanced Communications Reins In First-Half Losses

August 7, 2014

Rowena Harris-Doughty

LONDON (Alliance News) - BATM Advanced Communications Ltd Thursday said strong sales in the second quarter of its financial year, helped it rein in its losses even further in the first-half of the year, while it swung to a net profit thanks to a tax credit.

The company, which provides technology for the networked telecoms and medical laboratory equipment markets, reported a pretax loss of USD569,000 for the six months to June 30, compared with USD2.1 million a year earlier.

It said losses were narrowed on the back of lower sales and market expenses and research and development costs, and swung to a net profit in the period of USD203,000, compared with a net loss of USD1.7 million the prior year, helped by a USD772,000 income tax credit.

"The momentum achieved in the first half has continued into the second half of the year, particularly in the Medical division... As a result of... continuing control over operating expenses, the group expects to report full year 2014 revenues and profits in line with market expectations," the company said in a statement.

Revenue in the period was marginally flat at USD56.7 million, as strong revenue growth in its Medical division was offset by a fall in sales in its Telecom division, but sales in the second quarter were stronger than the first quarter.

The group said its Telecom division has stabilised under a new management team and is making good progress now its focusing its strategy on South East Asia, especially China.

BATM shares were up 3% at 17.25 pence before midday Thursday.

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Source: Alliance News

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