Sharecast News
23 Jun, 2022 10:25

MTI Wireless subsidiary secures multiple orders through Italian resellers

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MTI Wireless EdgeSharecast graphic / Josh White

Radiofrequency technology group MTI Wireless Edge's Mottech Water Solutions subsidiary has secured several orders through its Italian resellers, totalling approximately €1.0m.

MTI Wireless said on Thursday that the orders, all due for delivery during the third quarter of 2022, will result in "a significant increase" in revenues from Italy in the current year and were in line with Mottech's profit margins.

The AIM-listed group highlighted that Italy had been a successful market for Mottech, operating through long-term resellers of the subsidiary's product range.

Chief executive Moni Borovitz said: "We are delighted with these contract wins, as they demonstrate our customers' satisfaction with our ongoing support and market-leading solutions. Italy is an important market for Mottech as we see good potential to further increase revenues and profits through both existing and new clients."

As of 1025 BST, MTI Wireless shares were up 2.05% at 64.29p.

Reporting by Iain Gilbert at Sharecast.com


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Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author or publisher.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.

The value of investments can fall and you may get back less than you invested.