15th Jul 2021 16:22
(Alliance News) - Starcom PLC on Thursday announced that its current indications show revenue for the first half of 2021 at USD2 million, despite a shortage of microprocessors and Covid-19 impacting the company.
For the same period a year prior, Starcom's revenue was GBP2.3 million, reflecting a 13% drop.
Shares in Starcom were down 16% at 0.84 pence each in London on Thursday.
Starcom is a company based in Jersey, Channel Islands, specializing in wireless systems for remote tracking, monitoring and protection of a variety of assets.
Starcom has continued to be impacted by the Covid-19 pandemic, with many customers deferring their normal trading and others still in lockdown, although it has started to see increased activity from some customers.
At the same time, the global supply shortage of microprocessors and some other products is having a significant impact both for Starcom and many other companies, as well as significant price rises in component parts, and some orders for customers have been delayed as a result.
However, the company is beginning to see increased interest in its Lokies and Tetis products and expect to see results from this in the second half of the year and thereafter. The recent award from DHL for its Lokies product gives Starcom confidence that this product should help drive further growth in its business over the next few years.
Starcom expects to publish its interim in the next month.
By Amrit Sahota; [email protected]
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