BATM Advanced Communications Turns To Profit In H1 – Quick Facts

BATM Advanced Communications Limited (BVC.L) said it delivered a good performance in the first half of the year, with increased sales. Looking forward, the Group projects good growth for full year 2019, in line with the Board’s expectations. The Group entered the second half of 2019 with a substantially higher order book.

For the first-half, profit to owners of the company was $0.6 million compared to a loss of $1.4 million, prior year. From continuing operations, profit per share was $0.14 compared to a loss of $0.35. Adjusted operating profit was $1.6 million compared to a loss of $0.6 million. This includes a capital gain of $3.2 million, for the current year period.

First-half revenue declined to $56.22 million from $58.20 million, a year ago. On a constant currency basis, revenue was $58.4 million, for the period. The Bio-Medical Division, which recorded 54% of total revenue, reported an increase of 2.1% in revenue to $30.2 million from $29.6 million, primarily due to growth in the Distribution unit. On a constant currency basis, the Bio-Medical division revenue growth was 7.8%, for the period.

After three down weeks, Europe stocks start higher

Europe stocks on Monday advanced, as government officials across the globe discussed how the world economy could avoid a sharp downturn.

After losing ground for three straight weeks, the Stoxx Europe 600 index SXXP, +0.67% rose 1% to 373.33, with the hard-hit banking sector SX7E, +0.94%  leading the advance.

The German DAX DAX, +0.79% climbed 1.23% to 11704.57, the U.K. FTSE 100 UKX, +0.77% increased 0.99% to 7187.72 and the French CAC 40 PX1, +0.62% increased 0.94% to 5350.71.

U.S. stock futures ES00, +0.72%  also were stronger.

After a report from Spiegel last week that suggested Germany could deficit spend if it entered recession, Finance Minister Olaf Scholz over the weekend said the country has the strength to counter any economic crisis with “full force,” according to a Reuters report. The yield on the benchmark 10-year bund TMBMKDE-10Y, +5.22%  edged up to -0.67%.

Meanwhile, two White House aides over the weekend gave upbeat assessments of the global economy.

Footballers caught up in gangland turf war

It’s understood footballers are spending up to £100,000 on guard dogs for protection, as experts tell us Arsenal stars Mesut Ozil and Sead Kolasinac are ‘caught up in gangland turf war.’

:: Listen to the Daily podcast on Apple Podcasts, Google Podcasts, Spotify, Spreaker

Also on today’s podcast, we ask what the news of British Steel’s preferred buyer means for workers.

After 17 years, West Virginia town has access to clean water

A West Virginia town that spent the past 17 years living under a boil water advisory finally has access to clean water.

The Charleston Gazette-Mail reports the McDowell County Public Service District completed its takeover of the O’Toole water system last week. O’Toole homes had struggled with foul-smelling, discolored water piped in by its water association, created by a coal company when the area was a coal camp in the mid-1900s without much maintenance since.

The takeover began last year and its completion means residents no longer have to ration clean water or gather it from mountain springs. Sixty-four-year-old Carol Thompson has lived in O’Toole her whole life. She says using tap water feels unnatural as it’s something she’s never done before, but she’s happy it’s an option now.

———

Information from: The Charleston Gazette-Mail, http://wvgazettemail.com.

Germany could spend $55 billion on stimulus should economy slow: report

The German government could come up with $55 billion (50 billion euros) in stimulus should the country’s economy fall on hard times, German Finance Minister Olaf Scholz said in Berlin on Sunday, according to Bloomberg News. German gross domestic product shrank 0.1% in the second quarter of the year, as the export-focused economy has faced difficulties related to global trade disputes. Scholz’s comments follow remarks last week by German Chancellor Angela Merkel who reportedly said she didn’t see a need for stimulus right away, but the government would respond if needed. The German DAX 30 index DAX, +0.90% jumped 1% to 11,679.65 in early trading on Monday, led by banks.

EU executive says ready for no-deal Brexit, Britain would suffer most

BRUSSELS, Aug 19 (Reuters) – The European Union’s executive said on Monday that the bloc was ready for a no-deal Brexit and that Britain would suffer most under such a scenario.

Speaking at a regular daily briefing, the European Commission spokeswoman, Natasha Bertaud, said any no-deal British withdrawal would never be the EU’s preferred scenario, adding that the Brussels-based executive saw no need for additional contingency preparations at this stage. (Reporting by John Chalmers and Alissa de Carbonnel, Writing by Gabriela Baczynska; Editing by Alison Williams)

Weibo Corp. Q2 Profit Tops Estimates – Quick Facts

Weibo Corp. (WB), a leading social media in China, said it delivered strong user performance in the second quarter of 2019. Average daily active users were 211 million in June 2019, a net addition of approximately 21 million users year-over-year. Monthly active users were 486 million in June 2019, a net addition of approximately 55 million users year-over-year.

For the second-quarter, non-GAAP net income attributable to Weibo was $156.4 million, and non-GAAP net income per share was $0.68, both flat year-over-year. On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $0.59, for the quarter. Analysts’ estimates typically exclude special items.

Second-quarter net revenues increased 1% year-over-year to $431.8 million, an increase of 7% on a constant currency basis. Analysts expected revenue of $429.25 million for the quarter. Advertising and marketing revenues were $370.7 million, flat with prior year.

For the third quarter of 2019, Weibo estimates its net revenues to increase 6% year-over-year to 9% year over year on a constant currency basis.