Technology group BATM Advanced Communications Ltd (LON:BVC) is set for a cash boost as it struck a deal to sell its wholly-owned administrative building in Israel.
The firm is taking advantage of high real estate prices in the country and set for a profit of around US$2.9mln.
It will receive around a total of US$8.9 million, compared to the building's book value of around US$6mln as at the end of August this year.
All staff will be moved to a neighboring newly erected building, the firm added.
Last week, the group said it was eyeing further revenue growth in the second half, notably via its diagnostics business, as it reported further group progress in the first.
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 June 30, 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, 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.