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21st Century Technology Sees Slower Than Expected First Quarter
LONDON (Alliance News) - 21st Century Technology PLC Friday said it traded in line with its expectations in 2015, but the first quarter of 2016 has been "slower than expected".
This is due to orders from two large fleet customers being more weighted to the second half than it had originally anticipated, and in response management has initiated a programme to remove costs from the business.
Despite the slower first quarter 21st Century Technology said it is increasingly confidence that its second half performance will be "much improved" on the first half.
21st Century Technology provides closed circuit television and monitoring systems to the transport industry. It expects to report its 2015 results in mid-May.
Shares in 21st Century Technology were down 25% at 3.01 pence Friday afternoon.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
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