LONDON (Alliance News) - Zytronic PLC on Tuesday said it saw a double-digit decline in both revenue and profit in the first half of its current financial year due to lower demand for its touchscreens.
The manufacturer of touch sensors reported pretax profit of GBP1.4 million for the six months to the end of March, down 37% from GBP2.2 million generated a year prior, as revenue slipped by 11% to GBP9.5 million from GBP10.6 million.
The reduction in revenue was due to the decline in sales into the Gaming market to GBP3.1 million from GBP4.2 million the year before. In volume terms the numbers of touchscreens sold remained at similar levels to last year, but the number of larger panels dropped by 35%.
Meanwhile, sales to sectors such as Financial, Vending and Signage increased to GBP5.1 million from GBP4.6 million a year earlier, but other sales, including Industrial, decliend to GBP1.3 million from GBP1.8 million.
Zytronic maintained its interim dividend at 7.6 pence a share.
"Whilst historically trading in the second half has shown an improvement over the first half, and there are several projects that should improve performance as they come to fruition, at this stage the board is taking a cautious and conservative view on an increase in activity levels from the Gaming sector in the second half," said Chair Tudor Davies.
Zytronic shares were trading 0.4% lower on Tuesday at 269.00 pence each.
Zytronic (ZYT)