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Institution ups stake in MTI Wireless as its doubles first quarter profits

MTI Wireless Edge Ltd's (LON:MWE) Moni Borovitz updates Proactive London on their Share Repurchase Programme as well as first quarter trading.

The firm saw pre-tax profits more than double in Q1 while also recording significant growth in its order book.

For the three months ended 31 March pre-tax profits had risen to US$560,000 from US$250,000 previously, while revenues had jumped 16% year-on-year to US$9.1mln

Quick facts: MTI Wireless Edge Limited

Price: 37 GBX

AIM:MWE
Market: AIM
Market Cap: £32.52 m
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MTI Wireless Edge seeing 'continued significant revenue growth and...

MTI Wireless Edge Ltd's (LON:MWE) Richard Bennett discusses with Proactive London's Andrew Scott the group's results for the nine months to the end of September. Revenues increased by 12% in the period to $29mln while operating profit increased 33% to $2.5mln.

on 25/11/19

2 min read