Interim Management Statement

27 October 2011

Laird PLC

Interim Management Statement

Laird, a focused electronics and technology company, and a leader in the design and supply of performance critical components and systems for wireless and other advanced electronics applications, today announces its Interim Management Statement for the period from 1 July 2011 to 27 October 2011.

Revenue in the third quarter from Performance Materials and Wireless Systems ("continuing businesses") was £121 million (2010: £103 million), up 18% on the prior year. Revenue growth expressed in US Dollars was 22%.

Organic* revenue growth in the third quarter of 2011 was 8% (year-to-date: 16%), against the comparative of a strong performance seen in the second half of 2010, particularly in Wireless Systems. We continued to benefit from the diversity of our customers and markets.

Revenue in the third quarter from the discontinued Handset Antennae and Mechanisms businesses was £23 million (2010: £38 million).

Underlying operating margin in the quarter from continuing businesses was higher than in the comparable period in 2010 and is consistent with our expectations for future margin development.

Performance Materials Division

In the Performance Materials division, revenue in the third quarter of 2011 was £77 million (Q3 2010: £70 million, up 10%). In US Dollars, this represented 13% growth. Klüver, acquired in April 2011, contributed £3 million of revenue in the third quarter of 2011. Organic* growth in the Division in the third quarter was 9%.

Continued demand from tablets and smartphones has been a principal driver of growth in our EMI business, and we successfully participated in the launch of a new smartphone during the quarter. Revenues from the automotive and telecoms sectors held up well, while there was some continuing softness in the PC notebook and flat screen TV segments. Strong demand for our thermal management solutions continued to be driven by the increasing requirements to manage heat as devices get smaller, faster and more complex. Our products are targeted at specific solutions in specialist markets requiring our advanced materials science products.

Wireless Systems Division

In our Wireless Systems division, revenue in the third quarter of 2011 was £44 million (Q3 2010: £32 million, up 35%). In US Dollars, this represented 41% growth. Cattron, acquired in November 2010, contributed £11 million of revenue in the third quarter of 2011. Organic* growth in the Division in the third quarter was 7%.

Performance in this division has been driven particularly by the continued demand for our telematics products in the automotive sector, following an already very strong performance in 2010, and where the business was recently awarded a new long term programme with a major North American truck supplier, supplying specialist GPS modules with added software. The demand for Cattron products and services with major railroads in the USA and Europe has continued well, with additional contracts signed in the quarter which will benefit 2012 and beyond. Revenues into the IT, Telecoms, cellular and portable radio markets all held up well.

Discontinued businesses

Final shipments of Mechanisms products will be complete by the end of October, in line with our target of exiting the business by the end of 2011. The closure of the Handset Antennae business is proceeding to plan, with no significant operational or customer issues. It is now profitable and cash generative.

Financial Position

Laird's financial position remains healthy and we are focused on strong cash generation, with tight controls on working capital and capital expenditure again held below depreciation. Net debt at the end of September was slightly higher than at June, as expected.

Outlook

Laird is a strong business through the diversity of its customer base, the breadth of capabilities we possess and the markets we serve, together with our broad and expanding technology portfolio.

We continue to expect 2011 to be a year of good progress. While we are mindful of the effects of the current macro-economic uncertainty, we expect the underlying demand for our products in the medium to long-term to continue.

We remain confident in our ability to meet our short and medium term targets announced in July.

*Organic growth: On a pro-forma basis, restating prior year comparatives as if acquisitions were owned for the equivalent period of the prior year, and in US Dollars.