MTI Wireless Edge (LON: MWE) is ending its operations in Russia and that will hold back growth this year. MTI Wireless had been winning electronic components distribution business in Russia and it already has a prepayment for an order. Despite this problem, profit could still improve this year.
Elsewhere, prospects are good thanks to 5G infrastructure investment and the need to conserve water.
In 2021, revenues increased 6% to $43.2m, while higher transport costs and exchange rate movements meant that pre-tax profit was flat at $4.04m. Russia accounts for 6% of revenues and 5% of...
