LONDON (Alliance News) - Semiconductor and imaging technology company e2v Technologies PLC saw its pretax profit and revenue edge higher in the first half and maintained its guidance for the year despite challenging market conditions.
The company said its pretax profit for the half to the end of September was GBP13.8 million, compared to a GBP13.0 million profit a year earlier. Revenue rose 7.0% to GBP109.5 million from GBP102.3 million and was given a small boost by favourable exchange rate movements. In constant currencies, revenue rose 5.1%.
Revenue also benefited from the inclusion of AnaFocus, the Spanish imaging sensors company e2v bought in 2014. Imaging technology revenue grew from sales to industrial markets, while the radiotherapy division benefited from continued market growth, which offset a decline in defence sales. Semiconductors had a slow start to the year, in line with e2v's expectations, with lower demand for microprocessors and assembly and test services in Europe.
e2v said it would pay an interim dividend of 1.6 pence per share, up from 1.5p a year earlier.
"We achieved revenue growth in the first half, consistent with our full year expectations in what were challenging markets," said Steve Blair, e2v's chief executive.
"Whilst we remain cautious about the broader economic environment, and assuming no deterioration in market conditions, our outlook for the current financial year remains unchanged," Blair added.
Shares in e2v were up 2.4% to 239.00 pence on Monday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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