19th May 2021 15:01
MTI Wireless Edge Ltd - Israel-based communication and radio frequency solutions firm - Reports "solid" revenue growth for three months to end of March, up 4% to USD10.0 million, while profit from operations rises 14% year-on-year to USD960,000 and pretax profit up 25% to USD900,000.
Chief Executive Moni Borovitz says performance over first quarter "encouraging".
"We have enjoyed a good start to the year. The majority of our markets are functioning well, with our home market, Israel, largely back to normal as far as Covid-19 is concerned. Trading is still likely to be disrupted in some areas but overall, given the experience gained last year when operating under the Covid-19 restrictions, we are confident in the ability of our teams to trade effectively," Borovitz says.
Current stock price: 70.20p
Year-to-date change: down 3.2%
By Lucy Heming;Â [email protected]
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