LONDON (Alliance News) - Zytronic saw its shares rise strongly Thursday after it said trading in the first half its financial year has so far been considerably ahead of a year ago.
In a statement ahead of its annual general meeting, the company said improving orders and sales of touch sensors meant revenues and margins so far in the first half of the year were at similar levels to the second half of last year and in line with management expectations.
Zytronic reported a 20% decrease in revenues to GBP8.5 million in the first half of last year, while its gross profit margin decreased sharply to 26.0%, from 36.4% a year earlier. However, there was a sharp improvement in the second half of the year as delayed major projects were converted into orders, with revenues rising to GBP8.8 million in that half and margins jumping back up to 30.7%.
The touchscreen technology company expects to release full results for the half year to end-March 2014 during May.
Zytronic shares were up 10.4% at 269.30 pence Thursday morning, one of the biggest rises on AIM.
By Steve McGrath; stevemcgrath@alliancenews.com; @stevemcgrath1
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Zytronic (ZYT)