13th Jun 2018 11:09
LONDON (Alliance News) - Dewhurst PLC on Wednesday said its revenue and profit decreased in the first financial half, due to the lower keypad sales.
The components producer reported pretax profit for the six months to the end of March at GBP2.9 million, down 4.0% from GBP3.0 million in the same period the year before, as revenue dropped 5.0% to GBP24.7 million from GBP26.1 million.
Dewhurst said it saw weaker demand for keypads during the first half of the year which resulted in lower sales. The currency movements also had a 5% negative impact on both sales and profit.
In addition, the company said it sold the door & cab division, which also led to the reduction in sales in the period.
Despite that, Dewhurst maintained its interim dividend at 3.50 pence per share.
Looking ahead, the company said it sees positive business climate in most of its markets. The exception remains the UK, where the company sees some uncertainty about the economic situation, which depends on certain political decisions, it said.
Shares in Dewhurst were trading 12% lower at 549.00 pence each on Wednesday.
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