Beam Communications: Posts 26pc increase in half-yearly revenue

  • Beam Communications (BCC) has recorded nearly a 26 per cent increase in revenue to $8.95 million for the first half of FY21
  • The telco company also saw a positive operating cashflow of $389,352
  • Additionally, net profit after tax increased by 14.6 per cent to nearly $184,000
  • The device has won a number of awards and now distributed by major retailers including Catch Group, Myer, and Kogan.com
  • Beam rounded off the half year with $4.4 million in cash after a placement and positive operating cashflow
  • Company shares ended the day 1.67 per cent in the red to trade at 29.5 cents at market close
Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

You May Also Like

Bank of Ireland UK Fined $3.7 Million for Delayed Anti-Fraud Tool Implementation

Regulator penalizes the bank for missing critical compliance deadlines.Highlights: Bank of Ireland UK fined $3.7 million by PRA.Penalty...

eBay Invests in TrueLayer, Strengthening Pay By Bank Initiative

The partnership aims to enhance direct bank transfers for eBay users.Highlights: eBay invests in TrueLayer to enhance payment...

Vestwell Doubles Valuation After $385 Million Series E Funding

U.S. savings platform Vestwell gains significant investment, boosting growth potential.Highlights: Vestwell raises $385 million in Series E funding.Valuation...

Australian AI Fintech Lorikeet Expands with New London Office

Lorikeet sets its sights on international growth by establishing a presence in London.Highlights: Lorikeet opens a new office...