8th Nov 2019 14:21
(Alliance News) - Windar Photonics PLC said Friday 2019 performance will be below market expectations due to tough trading conditions.
The technology company, which manufacturers wind sensor for use in wind turbines, said that trading conditions for the year remained challenging, meaning the conversion of its sales pipeline into confirmed orders has been particularly slow.
Although Windar's pipeline of near tern orders and projects have a sales value in excess of EUR3.0 million, there is no guarantee that any of these orders will be placed on time for delivery in the current year.
Windar's cash held as at October 31 amounted to EUR170,000 compared to EUR300,000 as at June 30, and the company's working capital remains constrained.
The company's board is currently reviewing its working capital requirements and headroom.
Shares in Windar Photonics - which is headquartered in Taastrup, Denmark - were down 24% at 32.50 pence on Friday in London.
By Dayo Laniyan; [email protected]
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