BATM PLC (LON:BVC) said strong demand for its coronavirus (COVID-19) diagnostics products will mean sales and profits for the year to end-December 2020 coming in well ahead of forecasts.
The London-listed tech group expects revenue for full-year 2020 to be at least US$180mln or annual growth of over 45% with underlying profits [EBITDA] to be 'substantially ahead' of market expectations.
Growth has been driven by the Bio-Medical division and particularly orders for diagnostics testing kits, reagents and instruments, the Israeli group said.
These have come primarily from public health authorities in Europe and South East Asia and are continuing into 2021.
The Eco-Med unit also contributed to the exceptional performance of the Bio-Medical division in 2020 with the manufacture of critical care ventilators, BATM added.
Networking & Cyber was resilient in the face of COVID-19 travel restrictions, BATM said.
Progress had been made on the network function virtualisation (NFV) solution, it noted, with a first-tier 1 customer contract signed and proofs-of-concept with others including Vodafone.