21st Jan 2016 07:46
LONDON (Alliance News) - Technology company Laird PLC said Thursday it anticipates meeting expectations for 2015, as revenue rose 12%, and it expressed confidence for "another year of growth" in 2016.
Laird said its revenue for 2015 rose 12% to GBP630 million from GBP565 million in 2014, with revenue up 1% in its fourth quarter to GBP164 million from GBP163 million.
In the quarter the company saw a strong performance from its Wireless Systems segment, with revenue up 18%, which helped offset a weaker result from its Performance Materials business, where revenue was hit by the ongoing weakness in the telecoms and smartphone markets.
"We have delivered another year of good growth, underpinned by an increasingly diversified business which helped mitigate a challenging final quarter in our Performance Materials business. Our Wireless Systems business continues to go from strength to strength, performing particularly well in connected transport where we offer excellent solutions in a strong market, further enhanced by our acquisitions," said Chief Executive David Lockwood in a statement.
"Strong momentum in Wireless Systems underpins confidence in another year of growth for the group in 2016. Performance will be more second half weighted than in 2015, if softer conditions in the smartphones market continue into the first half of the year," Lockwood added.
Laird will report its 2015 results March 2.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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