Business
TRADING UPDATE
TRADING UPDATE.
About this update from Mti Wireless Edge Ltd
[{"type":"text","content":"\n \nRNS Number : 5957U MTI Wireless Edge Limited 25 October 2017 \n\nDissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR). \n \n25 October 2017\n \nMTI Wireless Edge Ltd\n(\"MTI\" or the \"Company\")\n \nTRADING UPDATE\nMTI Wireless Edge Ltd (AIM: MWE), a market leader in the manufacture of flat panel antennas for fixed wireless broadband and a wireless irrigation solutions provider, announces a trading update for the three months ended 30 September 2017 (the \"Third Quarter\") and for the year ending 31 December 2017. \nThe Board expects to report strong Third Quarter revenue generation from both the antenna division and the wireless irrigation division. However, greater than anticipated costs were incurred and recognised in the Third Quarter in relation to a military antenna project. This has resulted in the antenna division making an operating loss in the Third Quarter, although the Board expects that this military antenna project will be profitable once completed. The wireless irrigation division continued to perform strongly in the Third Quarter and delivered robust operating profit margins, which has led to the group trading profitably on a consolidated basis in the Third Quarter. \nThe Board is optimistic regarding trading in the fourth quarter of 2017, however, given the antenna division's trading in the Third Quarter the Board now expects that group profitability for the current financial year likely will be slightly lower than current market expectations. The Board anticipates that MTI's group profitability for the year ending 31 December 2018 will remain in line with current market expectations for that year. \n \nFor further information please contact:\n\n\n\n\nMTI Wireless Edge Ltd\nDov Feiner, CEO\nMoni Borovitz, Financial Director\n\n\nhttp://www.mtiwe.com/\n+972 3 900 8900\n\n\n\n\n \nNomad and Joint Broker\nAllenby Capital Limited\nNick Naylor\nAlex Brearley\n\n\n \n+44 20 3328 5656\n \n\n\n\n\n \nJoint Broker\nPeterhouse Corporate Finance Limited\nLucy Williams\nEran Zucker\n\n\n \n+44 20 7469 0930\n\n\n\n\n \nAbout MTI Wireless Edge\nMTI is engaged in the development, production and marketing of high quality, low cost, flat panel antennas for commercial and for milita...