20th Aug 2015 07:55
LONDON (Alliance News) - Densitron Technologies PLC Thursday reported a wider pretax loss in the first half of 2015 as it booked costs associated with a lease surrender, but revenue grew on a strong performance from its core businesses and it said it is confident it will meet market expectations for the full year.
Densitron, which produces electronic displays, electronics and software, said that its pretax loss in the six months ended June 30 widened to GBP0.23 million from GBP0.17 million, as it booked costs relating to a lease surrender of its property in Newcastle. It said that profit from operations before exceptional items increased to GBP0.3 million from a GBP0.1 million loss.
Revenue, however, grew to GBP11.4 million from GBP9.3 million, boosted largely from a strong performance in the core businesses in the US, France and Taiwan. The UK has continued to underperform, Densitron said, but has revenue scheduled in the second half of the year that is substantially higher than that achieved in the first half.
Densitron added that at June 30 the business had confirmed orders of GBP13.4 million, up 7.2% on the same date the prior year.
"The second half of the year is traditionally stronger than the first half year and looking at the revenues already scheduled over the remainder of the year, I would anticipate this trend continuing during the second half of 2015. For this reason the board is confident that the business will achieve its market expectations for the full year," Chairman Jan Holmstrom said in a statement.
Shares in Densitron were untraded on Thursday, last trading at 7.75 pence.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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