MTI Wireless Edge (AIM:MWE) – congratulations to patient holders
Having been a disappointing story over the past few years, the manufacturer of flat panel antennas for fixed wireless broadband, which has recently broadened its offering to cover wireless irrigation solutions, delivered encouraging results for the nine months ended 30 September 2015. We are encouraged by the Group’s greater enthusiasm for working its balance sheet. Well done to those holders/buyers who kept the faith!
Revenue increased by 26% year-on-year in the nine months to 30 September 2015 to US$13.4m with operating profit up to US$1.05m (nine months to 30 September 2014: US$0.2m).
The headlines commented on shareholder’s equity of US$17.9m (at June 30, 2015: US$17.8m), equivalent to 22.6p which compares to the current share price of 16.8p. The apparent asset backing to this business has never been in doubt, rather its reason for staying on AIM and the…
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