24 Apr 2017 07:00
24 April 2017
HOLDERS TECHNOLOGY plc
("Holders Technology", the "Group" or the "Company")
AGM Trading Update
Holders Technology plc, (AIM: HDT), announces a trading update in advance of the Company's AGM to be held at 11:30 today. Holders Technology supplies specialty laminates and materials for printed circuit board manufacture ("PCB"), and operates as an LED solutions provider to the lighting and industrial markets.
The Board confirms that trading for the first period of 2017 has been broadly in line with the Board's expectations.
The PCB divisions contribute approximately 80% of Group revenue. The divisions were restructured during 2016 as reported in the previous Annual Report. Results to date show an improvement in PCB revenue and margin compared to the same period in 2016. The Group continues to invest in machinery and IT systems to improve efficiency, and new PCB products have been added to the product portfolio.
The LED divisions contribute approximately 20% of Group revenue. The Holders Components LED divisions have together maintained revenue and margin compared to the same period in 2016. The LED product range has now been broadened to include smart controls and sensors, which enables lighting to be incorporated into the 'Internet of Things'. The UK NRGstar business, which sold energy efficient lighting to the retail and commercial markets, showed declining revenue in the first quarter, and this activity has been discontinued.
For further information, contact:
Holders Technology plc 01896 758781
Rudi Weinreich, Executive Chairman
Victoria Blaisdell, Group Managing Director
Paul Geraghty, Group Finance Director
Northland Capital Partners Limited - Nomad & Broker 020 3861 6625
Gerry Beaney, Corporate Finance
Tom Price, Corporate Finance
Rob Rees, Sales and Broking
Website www.holderstechnology.com