26 Jun Lawyer Jon Cartu Publishes – BATM Advanced Communications : Business and Trading Update
Further to the Group’s announcement of
As a result of the considerable growth in the Bio-Medical division, which has more than offset any loss of revenues in the Networking & Cyber division, BATM now expects to report a substantial increase in FY 2020 revenues, at least 25% higher than FY 2019 and materially higher than market expectations. It also expects to report EBITDA significantly ahead of market expectations.
The growth in the Bio-Medical division is due to the substantial investment the Group has made in recent years to build a best-in-class diagnostics platform. This division is able to quickly provide solutions that include diagnostic kits for any new pathogen that appears and devices including diagnostic instruments, ventilators and pathogenic waste disposal units. As a result, this division was able to respond rapidly when it was first alerted to the potential outbreak of COVID-19.
In the first half, the Group was able to launch a new diagnostics antigen molecular (RTPCR) test kit to detect COVID-19 that underwent clinical verification and evaluation by leading universities and hospitals in February and received certification at the end of
In addition to the sales of the newly launched kits (reagents), the Group has received increased demand for its instruments (readers). During the summer months, the Group is adding further production capacity for its reagents and instruments to satisfy potential orders from the continued interest the Group is receiving from around the world.
As previously announced, the Group is in the process of developing, in partnership with
Finally, during the first half of 2020, the Group received an order of
BATM is also pleased to announce that it has attracted significant talent into the business to manage the increased interest that is being received. In
The Group continues to work hard to ensure its employees are fully supported in remaining safe, well and able to work. The Board believes that, with the actions taken to date in response to the pandemic along with the further work to be undertaken to achieve the Group’s strategic objectives in 2020, BATM will continue to deliver shareholder value.
BATM will provide further details in its Interim Results announcement in