BATM Advanced Communications Limited (LON:BVC), a provider of real-time technology for networking and lab systems, said it is seeing the financial rewards following a period of investment, new product launches and bolt-on acquisitions.
It also confirmed it expects growth for the full-year to be in line with market expectations.
Looking ahead, chief executive Dr Zvi Marom said the biomedical division was “making further inroads”, gaining new customers and increasing sales to current ones.
Cyber business doing well
The cyber business continued to experience “increased interest” from government agencies across the globe, he added.
“As a result of this, the group has increased its backlog substantially compared with this time last year and, consequently, expects to report growth for full year 2017, in line with market expectations," Marom said.
WATCH: BATM seeing increasing interest from global government agencies in cyber offering
Revenues for the six months ended June rose 10% to US$49.8mln, which led to an improvement in gross profits, which increased US$200,000 year on year to US$15mln.
The adjusted operating loss was US$1.4mln; more importantly, the group had cash in the bank of US$22.4mln.