Research on MTI Wireless Edge Ltd (MWE:LON) from Turner Pope Investments
MTI reports nine-month revenue up 9% to $41.2m, profit before tax up 10% to $4.3m and basic EPS up 7% to 4.60 US cents, with net cash of $8.95m at 30 September 2026; the Board expects to declare a progressive final dividend with full-year results in Q1 2027. Mottech delivered standout performance with revenue +22% and operating profit +60% and acquired Interspec (maximum consideration ~$2.6m plus ~$1.2m funding) to enter the US market. Antenna division revenue was down 11% to $10.9m but April defence contract wins are converting into sales. MTI Summit revenue rose 12% while operating profit fell 12% due to lower-margin volumes and supplier delays that created a substantial order backlog expected to unwind.
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