Laboratory and telecom network technology group BATM Advanced Communications Ltd (LON:BVC) is eyeing further revenue growth in the second half, notably via its diagnostics business, as it reported further group progress in the first half.
The firm runs two divisions - Bio-medical (which includes diagnostics and accounts for 57% of total revenues) and the networking and cyber division, which accounts for 43%.
For the six months to end June, diagnostics revenues rose by 19.2% and it significantly increased the number of customers, as 325 machines were sold, compared to 462 in the whole of 2015.
For the group as a whole, revenues were US$45.1mln, compared to US$47.6mln in the first half of 2015, while the net loss reduced to US$1.5mln compared to a loss of US$2mln in the first half of 2015.
Chief executive Dr Zvi Marom told investors: "We are pleased with the results in the first half as the group capitalised on the foundations laid in 2015 for a sustainable recovery and growth.
"Specifically, the group focused on re-investing in sales and marketing in the Bio-Medical division resulting in it increasing its footprint and gaining a broader customer base, particularly in the Diagnostics unit.
"For the Networking and Cyber division the focus remained on conducting proof-of-concept trials of our latest software with Tier 1 companies and government agencies whilst maintaining tight cost control resulting in the division returning to profit at the operating level compared with a loss in the equivalent period last year.
The group added: "The Diagnostic unit's joint venture company, Adaltis Bio Med Company, is already making good progress in China and is expected to make a material contribution to revenues in H2 2016.
"In the Pathogenic Waste Treatment and Sterilisation business unit, the group expects the Green Lab acquisition to provide access to a larger number of markets, which it anticipates will lead to increased sales."
At the network and cyber business, management is focused on maintaining tight cost control, while the Cyber unit continues to experience increased interest from government agencies and corporations and anticipates winning additional contracts in the second half of the year, it added.