(Alliance News) - Zytronic PLC on Tuesday said it swung to an interim loss after sales continued to be dented by the coronavirus pandemic.
The manufacturer and developer of touch technology products swung to a half-year pretax loss of GBP314,000, compared to a GBP458,000 profit the year before. Revenue at the Tyne and Wear-based firm plunged 35% year-on-year to GBP4.8 million for the six months to March 31 from GBP7.4 million.
Despite the challenging first half of the year, Zytronic said there were reasons for optimism and that from January onwards it had seen an improving monthly average order intake.
"Whilst we are starting from a very low base compared with our historic sales levels, the recent improvement in orders and sales are an encouraging sign of the prospects for the second half and for a return to profitability as more normal global trading resumes post Covid-19," said Chair Tudor Davies.
Zytronic shares were 3.0% lower at 170.00 pence on Tuesday in London.
By Will Paige; willpaige@alliancenews.com
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Zytronic (ZYT)