(Alliance News) - Zytronic PLC on Thursday warned that continuing supply chain issues have dented order intake during its financial year 2022.
Shares in the Tyne & Wear-based touch sensors manufacturer were down 5.6% to 134.50 pence each in London on Thursday morning.
Zytronic said that geopolitical disruptions have continued to impact the availability and cost of both raw materials and electronic components. This has had a knock-on effect on customers and has resulted in lower than expected order intake.
Based on this, management expects revenue for its financial year to September 30 to be in the region of 5% higher than the GBP11.7 million reported for 2021. It also currently expects pretax profit to be ahead of its financial year 2021 result of GBP453,000.
Looking ahead, Zytronics said that sales and marketing activities are resuming after a near two-year hiatus, despite global and national uncertainties continuing.
"With an improving log of opportunities and the ability to commit further resources to business development and project progression activities, management remains confident in the positioning, ongoing recovery, and longer-term growth prospects for the group," Zytronics said.
By Sophie Rose; sophierose@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.
Zytronic (ZYT)