News of "record orders" sent shares in MTI Wireless Edge (AIM:MWE) climbing 9.5%, closing Tuesday at 66.8p.
MTI Wireless this morning, in a trading update, announced that it had booked just over $9m of defence-related orders in April.
For the three months ended 31 March, MTI, a technology group focused on communications and radio-frequency solutions, reported revenue of $12.8 million (Q1 2025: $12 million), operating profit of $1.5 million (Q1 2025: $1.2 million), net profit to shareholders of $1.2 million (Q1 2025: $1 million) and basic EPS of 1.40 US cents (Q1 2025: 1.18 US cents), with net cash of $8.5 million at 31 March (31 December 2025: $9.4 million).
The company said division performance was mixed with the Antenna division 20% below last year due to weaker E‑band 5G backhaul sales in India even as military antenna demand increased backlog in April, Mottech's Water Control & Management revenues rose 19% driven by North America, Italy and the Arabian Gulf, and Distribution & Professional Consulting revenues rose 20% with a growing backlog.
"Moving into Q2, we received a record level of defence related orders worth just over $9 million, the majority of which is expected to be fulfilled in the current year," Moni Borovitz, Chief Executive Officer, said.
