(Alliance News) - Holders Technology PLC on Friday said its performance in its most recently ended financial year was hurt by the coronavirus pandemic.
The AIM-listed company which supplies laminates and materials for printed circuit board manufacture said revenue for the year to the end of November 2020 declined to GBP9.8 million from the GBP12.2 million reported for the year prior.
Revenue for all divisions was reduced by the economic consequences of the Covid-19 pandemic, Holders Technology highlighted. All the businesses have reduced costs wherever possible, and the printed circuit board divisions taken together remained profitable. However, the lighting & control solutions divisions became loss making.
As a results, Holders Technology said it swung to a pretax loss of GBP249,000 from a GBP144,000 profit the year before.
The company said it will recommend payment of a final dividend of 0.25 pence per share, totalling 0.50p for the year, lower than 0.75p paid the year ago.
"The outlook for the first half of 2021 is more positive than the second half of 2020, with increased sales levels and order books. As for many similar companies, however, sustained improvement is heavily dependent on a recovery in the wider economy during 2021," the company said in its statement Friday.
Holders Technology shares were trading flat in London on Friday at 46.00p each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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