• Full-year revenue increased 13 per cent to $51.5mn
• Adjusted operating profit up 29 per cent to $5.8mn
• Underlying EPS up 17 per cent to 5.8¢
• Dividend per share raised 3 per cent to 3.4¢
• Net cash increased 56 per cent to $9.4mn
Israel-based technology group MTI Wireless Edge (MWE:52.5p) has reported full-year results comfortably ahead of house broker Shore Capital’s expectations, driven by robust demand from defence markets.
Founded in 1970 by late chair Zvi Borovitz, MTI has established a reputation as a global provider of radio frequency solutions across three core divisions. The group’s antenna operation sells off-the-shelf flat and parabolic antennas as well as custom-developed antenna solutions to a range of commercial and military customers. The business has an increasing focus on advanced antenna solutions for military applications and 5G backhaul antenna solutions to support mobile phone operators in rolling out 5G networks.
