Business
Results for the nine months to 30 September 2018
Results for the nine months to 30 September 2018.
About this update from Mti Wireless Edge Ltd
[{"type":"text","content":"\n \nRNS Number : 6921H MTI Wireless Edge Limited 19 November 2018 \n\nDissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR)\n \n19 November 2018 \nMTI Wireless Edge Ltd\n(\"MTI\" or the \"Company\")\nFinancial results for the nine months ended 30 September 2018\n \nMTI Wireless Edge Ltd. (AIM: MWE), the technology group focused on comprehensive communication and radio frequency solutions across multiple sectors, today announces its unaudited results for the nine months ended 30 September 2018.\nThe merger (the \"Merger\") between the Company and MTI Computers and Software Services (1982) Ltd. (\"MTIC\") completed on 20 August 2018. Therefore, the Company is presenting its financial results as if the Merger was in effect throughout the entire reporting period and has also provided comparative financial information in respect of both the pre and post-Merger results for the nine month period ended 30 September 2017. \n \nHighlights for the nine month period ended 30 September 2018: \n· Revenues increased by 32% year-on-year to $25.9m due to the Merger and 2% organically (nine months ended 30 September 2017: $19.6m* and $25.5m** respectively)\n· Operating profit increased 66% year-on-year to $1.9m due to the Merger and 7% organically (nine months ended 30 September 2017: $1.15m* and $1.8m** respectively)\n· Net profit increased 67% year-on-year to $1.57m due to the Merger and 7% organically (nine months ended 30 September 2017: $0.94m* and $1.48m respectively**)\n· Earnings per share increased 8% year-on-year to 1.81 US cents due to the Merger and 10% organically (nine months ended 30 September 2017: 1.67 US cents* and 1.65 US cents** respectively)\n· Shareholder's equity grew during the period to $19.9m (31 December 2017: $19.6m), equivalent to 17.8 pence per share (converted at 1.285 US dollar/1 British Pound).\n \n* These figures represent the relevant financial results of the Company (only) for the nine months ended 30 September 2017.\n** These figures represent the relevant financial results ...