17th May 2016 08:56
LONDON (Alliance News) - Touch sensor manufacturer Zytronic PLC Tuesday reported a rise in pretax profit for its first half on improved margins, and said it expects continued progress in its second half.
It proposed an interim dividend of 3.45 pence for the half year to end-March, up from 3.14p the year before.
For the half year, the company reported a pretax profit of GBP1.8 million, up from GBP1.6 million the year before, as a slight fall in revenue to GBP9.9 million from GBP10.0 million was offset by an improved gross margin of 42.3%, up from 39.9% in the previous year.
Zytronic said the small decline in revenue was somewhat expected as it moved away from its traditional glass displays business to its growing technologically-advanced touch product business.
It said it had continued to see growth and opportunities in areas requiring larger touch size sensors, in particular, demand in its large format curved products developed for the gaming industry.
"The second half has so far experienced a similar trend with touch product revenues continuing to increase relative to the traditional products," said Chairman Tudor Davies in a statement.
Shares in Zytronic were down 6.7% at 388.10 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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