London-listed MTI Wireless down on FX headwinds stunting rev growth
15/08/2023 09:43
** Shares of MTI Wireless Edge Ltd MWEE.L fall as much as
5.9% to 40p, lowest level since October 2020
** Israeli antenna developer and manufacturer posts HY
revenue of $22.4 mln, broadly flat from year ago levels, amid
stronger dollar against shekel
** HY PBT, however, up 3% at $2.1 mln
** Sees strong revenue from 5G and defence related sales,
with commercial sales improving as interest rates normalize
** Stock on track to log worst day since Oct. 13, 2022, if
trend holds
** Up to last close, stock had fallen ~23% so far this year
(Reporting by Prerna Bedi in Bengaluru)
((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))