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BATM Advanced Communications surges to multi-year highs after raising guidance

Last updated: 03:40 25 Jun 2020 EDT, First published: 02:36 25 Jun 2020 EDT

BATM Advanced Communications Ltd -

BATM Advanced Communications Limited (LON:BVC) shares jumped to 19-year highs on Thursday after the real-time technologies company hiked its full-year revenue and earnings expectations.

Things are starting to return to normal in its Networking & Cyber division as lockdown restrictions are eased around the world while the Bio-Medical division has performed exceptionally well in the first half of 2020, thanks in part to the sale of antigen and antibody testing kits to health authorities as well as the sale of critical care ventilators.

BATM now expects to report a substantial increase in full-year revenues, at least 25% higher than in 2019 and materially higher than market expectations.

It also expects to report underlying earnings (EBITDA) significantly ahead of market expectations.

BATM added it has attracted significant talent into the business to manage the increased interest that is being received. This month it appointed a former Roche executive, Jeremy Moss, as its global head of point of care.

Moss, who will operate from the UK, has served various senior roles at Roche over the past 22 years.

The group’s interim results are scheduled for release in August.

BATM's shares rose 7% to 101.9p in early trading on Monday, at one point hitting their highest levels since early 2001.

  --Adds shares--

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