Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
MTI Wireless Edge Ltd - Israel-based communication and radio frequency technology - Pretax profit is flat in 2021 at $4.04 million, versus $4.06 million in 2020. Revenue rises 5.6% to $43.2 million from $40.9 million but net finance expense increases. Raises final dividend by 12% to 2.8 US cents from 2.5 cents. MTI pays no interim dividend.
Chief Executive Officer Moni Borovitz comments: ‘2021 was a solid trading year for the business, and we will seek to repeat and build upon it in 2022. We have a very strong financial platform and MTI will continue to seek to expand its business through a mix of acquisition-led and organic growth.’
MTI also says it has decided to exit all operations in Russia, following the invasion of Ukraine. These operation contributed 6% of revenue and 5% of net profit in 2021, all related to distribution and professional consulting services.
Current stock price: 46.89 pence, up 1.9% on Monday
12-month change: down 47%
Copyright 2022 Alliance News Limited. All Rights Reserved.