"Each and every operational financial parameter improved during the first half compared to the corresponding period in 2014," begins the summary of the half-year results for machine to machine specialists Telit Communications (TCM). Indeed, it's hard to find fault with the recent performance of the Aim-traded group, which is excellently placed to benefit from the booming market for 'Internet of Things' technology.
Among the highlights was the company's sixth year of double-digit revenue growth and a 20 basis point increase in the gross profit margin to 39.7 per cent. The numbers were buoyed by growing sales of a platform that allows companies to build their own connectivity systems, and better margins in its hardware business. This was despite a components shortage in the US, Telit's largest market, which resulted in flat revenues for the region.