Holders Technology returns to profit

AIM-quoted Holders Technology swung back into profit in the year to November 2010. Holders supplies materials and equipment to the printed circuit board industry. It is trying to move into the fast-growing LED market. Revenues grew 26% to £16.3m, while a loss of £408,000 was turned into a profit of £490,000. Growth was strong in Germany, which has integrated the company's Dutch operations. Uk revenues were flat. Net cash was more than halved to £832,000 by the end of November 2010. That was mainly down to a large increase in stocks. They more than doubled to £3.83m. There was £600,000 invested in building up the LED operations and further investment is required this year. This market is highly competitive.