BATM Advanced Communications Ltd - Israel-based networking technology and medical lab systems - Pretax profit rises 19% to $726,000 in first half of 2023 from $611,000 a year before. Revenue rises by just 4.7% to $60.2 million from $57.5 million, but BATM swings to net finance income from expense. On an adjusted basis, pretax profit doubles to $2.3 million from $1.0 million. Says strategic review conducted during the recent half-year established the Networking, Cyber and Diagnostic lines of business as BATM’s core activities, with divestment of the Distribution and Eco-Med businesses possible. Looking ahead, BATM said it expects to report growth for all of 2023 in line with market expectations. Says it enters the second half of the year in a better position in terms of revenue momentum and backlog than a year before, with all business units expected to see revenue increases in the second half.

Current stock price: 26.00 pence

12-month change: down 9.3%

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