MTI Wireless Edge Ltd. (MWE)

Sector:

IT Hardware

Index:

FTSE AIM All-Share

 46.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 54.00
  • 52 Week Low: 31.00
  • Currency: UK Pounds
  • Shares Issued: 87.86m
  • Volume: 141,097
  • Market Cap: £40.41m
  • RiskGrade: 267

MTI Wireless Edge trades strongly through third quarter

By Josh White

Date: Monday 21 Nov 2022

LONDON (ShareCast) - (Sharecast News) - Communication and radiofrequency technology company MTI Wireless Edge reported a "strong" third quarter on Monday, with revenue growth of 8% year-on-year to $34.8m.
The AIM-traded firm said EBITDA for the nine months ended 30 September was ahead 14% to $4.58m, while one-off acquisition and depreciation costs led to a net profit of $2.74m, up from $2.7m.

Earnings per share increased to 2.99 cents from 2.95 cents, as the company remained ungeared, with net cash of $5.2m as at 30 September.

The board said it expected to declare a final dividend in its full-year results.

"The third quarter of 2022 represented an excellent performance compared to the third quarter of 2021, showing double-digit growth in revenue and profits all the way to earnings per share," said chief executive officer Moni Borovitz.

"We remain very focused on providing radio frequency solutions across our three divisions, each targeting specific markets where there is significant need for our services.

"Demand, as shown by the increase in sales, remains strong and our markets are nearly back to normal with shipment costs reduced relatively to the high cost during Covid-19, and microchip shortages also reducing."

Overall, Borovitz said the firm was in a "strong position", with net cash of $5.2m and no borrowings, to continue to grow both organically and by acquisition.

"Our antenna division is well positioned within the evolving 5G market - the main growth from 5G is still yet to come so we are positioning ourselves with most of the major players and demonstrating the strength of our solutions.

"India, a key market, where we have a physical presence, recently completed a 5G auction.

"This is leading to rapidly increasing demand and the forecast for the number of new Eband towers is substantial."

Moni Borovitz said PSK had proven to be a "strong addition" to the group, adding that since MTI acquired 51% of PSK in January, it had won "significant orders" primarily from within the defence sector.

"The summer just ended was one of the driest on record, accentuating the need to address the growing problem of water scarcity.

"There remains substantial unnecessary wastage of water, however, there is increasing awareness of solutions like Mottech's, where around 35% of the volume of water previously used can now be saved.

"Going into the final quarter of this year, the company is well-placed to deliver a good result for the year."

At 1219 GMT, shares in MTI Wireless Edge were up 3.68% at 52.88p.

Reporting by Josh White for Sharecast.com.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

MWE Market Data

Currency UK Pounds
Share Price 46.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 54.00
52 Week Low 31.00
Volume 141,097
Shares Issued 87.86m
Market Cap £40.41m
RiskGrade 267

MWE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
67.72% below the market average67.72% below the market average67.72% below the market average67.72% below the market average67.72% below the market average
73.91% below the sector average73.91% below the sector average73.91% below the sector average73.91% below the sector average73.91% below the sector average
Price Trend
6.17% below the market average6.17% below the market average6.17% below the market average6.17% below the market average6.17% below the market average
15.38% above the sector average15.38% above the sector average15.38% above the sector average15.38% above the sector average15.38% above the sector average
Income
51.83% above the market average51.83% above the market average51.83% above the market average51.83% above the market average51.83% above the market average
75.00% above the sector average75.00% above the sector average75.00% above the sector average75.00% above the sector average75.00% above the sector average
Growth
43.16% below the market average43.16% below the market average43.16% below the market average43.16% below the market average43.16% below the market average
68% below the sector average68% below the sector average68% below the sector average68% below the sector average68% below the sector average

MWE Dividends

  Latest Previous
  Final Final
Ex-Div 21-Mar-24 23-Mar-23
Paid 11-Apr-24 06-Apr-23
Amount 3.10¢ 3.00¢

Trades for 28-Mar-2024

Time Volume / Share Price
12:31 30,409 @ 45.14p
14:27 1,000 @ 45.24p
13:12 15,000 @ 46.25p
14:03 4,641 @ 45.25p
13:55 150 @ 46.34p

MWE Key Personnel

CEO Moshe Borovitz

Top of Page