Telit Communications Plc Reports Impressive Set Of Numbers For H1 2019

  • Sep 09, 2019 BST
  • Team Kalkine
Telit Communications Plc (AIM: TCM), for the six months ended 30 June 2019 has reported an impressive set of numbers with continued improvement in its financial performance. The company’s revenue was up by 7.6% to $180.3 million as compared to $167.5 million in H1 2018, though the growth was without including automotive business sold in February 2019, The company reported an improvement of $70.9 million in the profit before tax to $58.1 million, while it was a loss of $12.8 million in H1 2018. On the operational front, the company was able to further reduce its cash operating expenses and completed the restructuring and cost rationalization programme.

On 9th September 2019, at the time of writing, GMT 08:01 AM, TCM shares were trading at GBX 169.80, flat against the previous day closing price.

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