The Q3 update from the technology group focused on comprehensive communication and radio frequency solutions reflects the weakness of the Israeli Shekel (NIS) against the US dollar since the start of 2023. This reduces reported revenue but benefits profitability given its NIS cost base. Hence 9M revenue declined on a reported (-3%) but increased on a constant currency basis (+1%) and PBT increased 6%. October saw further NIS weakening, following the events of October 7th and the start of the war ....
