MTI Wireless Edge H1 revenue rises on Mottech demand
MTI Wireless Edge H1 revenue rises on Mottech demand
Overview
Israel technology group's H1 revenue rose 11% yr/yr to $26.7 mln
Net profit for H1 climbed 28% to $2.5 mln
Mottech division led growth; antenna division secured new defence contracts
Outlook
Company expects to continue trading in line with market expectations for the full yr
Trading in Q3 has started well, with activity weighted towards delivery of secured orders
Company sees increased defence spending as likely to drive further strategic momentum
Result Drivers
MOTTECH DEMAND - Mottech division saw strong sales and profit growth driven by international demand for water control and distribution solutions
DEFENCE CONTRACTS - Antenna division secured significant new defence contracts, with revenue impact expected in H2; improved margins offset lower H1 revenue
PRODUCT MIX & SCALABILITY - MTI Summit division's growth was driven by improved product mix and greater operational scalability, with PSK securing new defence contracts
Company press release: ID:nRSQ7877Qa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue |
| $26.71 mln |
|
H1 EBIT |
| $3.02 mln |
|
H1 Gross Profit |
| $9.03 mln |
|
H1 Pretax Profit |
| $2.87 mln |
|
Analyst Coverage
Wall Street's median 12-month price target for MTI Wireless Edge Ltd is GBp97.50, about 46.6% above its August 14 closing price of GBp66.50
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 16 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)