19th Aug 2014 09:45
LONDON (Alliance News) - Densitron Technologies PLC Tuesday said it narrowed its loss in the first-half of the year, as it managed to strip out costs across the business, but saw revenue drop in most of its markets during the period.
The display technologies company posted a pretax loss of GBP168,000 for the six months to June 30, compared with a GBP261,000 loss for the same period a year earlier, helped by cost savings.
However, revenue declined by 7% to GBP9.3 million, down from GBP10.0 million in the first-half of 2013, due to lower revenue from most of its markets, particularly the UK, Finland, Germany and Japan.
The company said orders booked in the period increased by 8.3% to GBP11.8 million, while its orderbook increased by almost 28% to GBP12.5 million. Its orderbook is confirmed orders from customers which have not yet been delivered. It said those orders will start to be delivered during the second-half of 2014 and into 2015.
Densitron Technologies said its second-half of the year is traditionally stronger than the first-half, and with the level of booked orders due to be shipped in the second-half, it is confident in its outlook.
"The pipeline of new business remains strong and the board is confident that the outturn for the full year will be in line with market expectations," the company said in a statement.
Densitron Technologies shares were trading 5.1% lower at 6.05 pence per share Tuesday morning.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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