BATM Advanced Communications () has seen earnings double in 2019 after what its chief executive said was a “great performance in the second half”.
CEO Zvi Marom talks Proactive London through the results numbers for 2019, adding he has great plans for 2020 with agreement in the pipeline on 5G and continued collaboration with top UK universities.
For the year ended 31 December, 2019, the networking tech and bio-medical firm reported underlying earnings (EBITDA) of US$9.8mln, up from US$4.9mln in 2018, while revenues rose to US$123.4mln from US$119.6mln. Adjusted operating profit, meanwhile, was up to US$5.3mln from US$2.6mln.
Marom is upbeat, saying revenues in the second half had been 20% higher year-on-year, which alongside a “robust fourth quarter” had helped deliver “increased sales and profit…along with strong cash generation”.