11th Dec 2007 07:01
Laird Group PLC11 December 2007 11 December 2007 THE LAIRD GROUP PLC TRADING UPDATE ON PROGRESS IN 2007 The Laird Group PLC ("Laird"), a leader in the design and supply of customised,performance-critical products for wireless and other advanced electronicsapplications, today issues an update on progress in 2007 ahead of its financialyear end on 31 December 2007. Laird has had an outstanding year in 2007. The divestment of our SecuritySystems division in April 2007 transformed Laird into a focussed electronics andtechnology company, with a broad set of complementary proprietary products andtechnologies serving specialist high growth markets, and allowed the return ofapproximately £100 million to shareholders. Laird has made further good progress during the second half of 2007. We continueto benefit from the underlying strength of our businesses, from the diversity ofour products and markets and in particular our presence in higher growthsegments, and from our well established, yet still expanding, low costmanufacturing base. The exceptionally strong organic revenue growth seen duringthe first half of this year has been maintained through the second half, and forthe full year we expect our operating margin to exceed that seen in the firsthalf. Results for the year are currently expected to be at the top end of marketestimates. We have seen continuing strong demand across our main product segments andmarkets, in particular for products into cellular handsets, notebook PCs andflat screen TVs. Our capacity expansions allow us to supply this demand andremain on track. Drivers of growth include the increasing content of Laird'sproducts within our customers' electronic devices, new customer account wins andthe continuing development of our technology portfolio. We also expect tocontinue to benefit from underlying market demand for our customers' products,in particular demand for these products from emerging markets. For enquiries: The Laird Group PLC Maitland Peter Hill, Chief Executive Brian Hudspith Jonathan Silver, Finance Director Charlotte Walsh Tel: 020 7468 4040 Tel: 020 7379 5151 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Laird