Interim results for six months ended 30 June 2011
Aug 18, 2011
BATM Advanced Communications Limited ("BATM" or the "Company") (LSE: BVC), a leading designer and producer of broadband data and telecoms systems and medical laboratory equipment, announces its interim results for the six months ended 30 June 2011.
- Revenues up 16.6% compared with H1-2010, primarily reflecting strong organic growth
- Gross margin up to 36% from 35% in H2-2010
- Return to operating and net profit
- Strong balance sheet with liquid assets of $54.7 million
- Shares to be listed also on Tel Aviv Stock Exchange
Dr Zvi Marom, Chief Executive of BATM said:
"I am pleased to report on a strong first half for the Company which has seen a marked improvement in both top and bottom line growth. Our Telecoms division has shown recovery and growth despite the loss of orders from a major OEM experienced last year. In the Medical division we are preparing for the launch of our sterilising shredder for the treatment of medical waste and expect our first sales of this exciting new product in the second half of the year.
"We continue to invest in the future growth of the business, whilst maintaining a very robust balance sheet. We are also proposing to file our shares to be listed on the Tel Aviv Stock Exchange, due to investor demand, which we expect to take place before the end of the current year. We continue to believe that we are building a strong company whose strength lies in the quality of its technology and we remain confident of long term future success."