23rd Oct 2013 06:52
LONDON (Alliance News) - Laird Plc (LRD.L, LARD.L), in its Interim Management Statement for the period from July 1 to October 23, reported that its third-quarter trading was in-line with expectations. Revenue was 6% higher than last year totaling 141 million pounds. In US dollars, revenue was $218 million, compared with $210 million in 2012. On an organic basis, year-over-year revenue was up 4% in the third quarter of 2013.
The company noted that the growth in Performance Materials has resulted in an increase in group revenue in the third quarter of 15% over the second quarter. Margins have improved compared with the first half due to increased topline growth driving improved utilisation, better product mix and further operational efficiencies, as expected.
Looking forward, the increased level of activity the company has seen, mainly in its Performance Materials unit, continues to underpin its confidence for 2013 and its full-year expectations remain unchanged.
Copyright RTT News/dpa-AFX
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