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MTI Wireless Edge first-quarter profit rises 25%
StockMarketWire.com
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Antenna group MTI Wireless Edge said its first-quarter profit had risen 25% amid a rise in sales.
Pre-tax profit for the three months through March increased to $0.90 million, up fro $0.72 million year-on-year, as revenue climbed 4% to $9.95 million.
'The majority of our markets are functioning well, with our home market, Israel, largely back to normal as far as Covid-19 is concerned,' chief executive Moni Borovitz said.
'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.
'Looking ahead, we believe the company's clear focus on providing radio frequency solutions coupled to being diversified across several markets positions us well to continue to grow and expand through a mix of acquisition led and organic growth.'
At 9:31am: (LON:MWE) MTI Wireless Edge Ltd share price was 0p at 52p
Story provided by StockMarketWire.com
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