BATM Advanced Communications Ltd. (BVC.L), a company specializing in real-time technologies for network solutions and medical laboratory systems, has reported a net loss for the fiscal year 2023. This loss, attributed to the company's stakeholders, amounted to $193 thousand or 0.04 cents per share. This is a significant drop from the previous year's profit of $244 thousand, or 0.06 cents per share.
There was also a decline in profit before taxation, which fell to $1.46 million from the previous year's $1.90 million. Despite this, total group revenue for 2023 saw an increase of 5.8% and reached $122.8 million. This increment predominantly reflects the growth achieved in the Cyber division and the company's distribution activities. Such growth managed to compensate for a decrease in the Networking division's revenue.
When factoring out the sales related to COVID-19 products from both years, the total group revenue shows an underlying increase. This growth is calculated to be 11.7% year-on-year. For the Diagnostics division, it was even higher at 20.8%.
