BATM Advanced Communications Posts FY Loss

(RTTNews) - BATM Advanced Communications Ltd. (BVC.L), a provider of real-time technologies for networking solutions and medical laboratory systems, reported that its net loss attributable to owners of the company for fiscal year 2023 was $193 thousand or 0.04 cents per share compared to profit of $244 thousand or 0.06 cents per share in the prior year.

Profit before tax was $1.46 million down from $1.90 million in the prior year.

Total Group revenue for 2023 increased by 5.8% to $122.8 million from last year. This primarily reflects growth in the Cyber division and the Group's distribution activities offsetting a reduction in the Networking division. On an underlying basis, when excluding the contribution to both years of sales from products related to COVID-19, total Group revenue increased by 11.7% year-on-year and by 20.8% for the Diagnostics division specifically.

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