ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

LRD Laird

199.90
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Laird LSE:LRD London Ordinary Share GB00B1VNST91 ORD 28.125P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 199.90 199.90 200.20 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Laird PLC Trading Update (6194D)

28/04/2017 7:00am

UK Regulatory


Laird (LSE:LRD)
Historical Stock Chart


From Mar 2019 to Mar 2024

Click Here for more Laird Charts.

TIDMLRD

RNS Number : 6194D

Laird PLC

28 April 2017

28 April 2017

Laird PLC

Q1 Trading Update

Laird PLC today announces its trading update for the first quarter from 1 January to 31 March 2017. Unless otherwise stated the trends and figures highlighted below refer to the three months ended 31 March 2017, the first quarter of the company's financial year, and the corresponding period for last year.

Group Performance

Performance for the first quarter was in line with our expectations and provides a solid start to 2017. Revenue in sterling for the first quarter grew by 15% to GBP197m (Q1 2016: GBP171m). On an organic constant currency(1) basis, revenue was up 8%.

Divisional Performance

Performance Materials

Performance Materials revenue for the quarter was up 10% to GBP92m (2016: GBP84m). On an organic constant currency(1) basis, revenue was 4% higher than the previous year, with growth in Precision Metals (against a weaker comparative in 2016), and also growth in Magnetic & Ceramic Products and Thermal Materials.

Connected Vehicle Solutions

Connected Vehicle Solutions revenue for the quarter grew 35% to GBP70m (2016: GBP52m). On an organic constant currency(1) basis, revenue was 24% higher than the previous year, underlining the strong growth prospects for this business.

Wireless and Thermal Systems

Wireless and Thermal Systems revenue for the quarter was flat at GBP35m (2016: GBP35m). On an organic constant currency(1) basis, revenue was 6% lower than the previous year. This decline was mainly driven by a strong prior year comparator in our Wireless Automation and Controls business before its sharp decline during the second quarter of 2016.

Commenting on today's announcement Tony Quinlan, Chief Executive, said:

"I am encouraged by our overall trading performance in the first quarter. We have seen continued strong revenue growth in Connected Vehicle Solutions, solid growth in Performance Materials, and the Wireless and Thermal Systems Division tracking in line with our expectations. We had strong shareholder support for our rights issue, the proceeds of which provide us with the balance sheet strength needed to continue our work in building a more robust and stable revenue and earnings performance. While it is still early in the year, our performance in the first quarter gives us confidence that the measures taken to improve our performance in 2017 are on track."

About Laird PLC:

Laird is a global technology company providing systems, components and solutions that protect electronics from electromagnetic interference and heat, and that enable connectivity in mission-critical wireless applications and antennae systems.

Enquiries:

 
 Laird PLC                          MHP Communications 
 Tony Quinlan, Chief Executive      Reg Hoare       Jamie Ricketts 
  Officer                            Tim Rowntree    Ollie Hoare 
  Kevin Dangerfield, Chief 
  Financial Officer 
  Lucie Harwood, Head of Treasury 
  & 
  Investor Relations 
 Tel: +44 (0)20 7468 4040           Tel: +44 (0)20 3128 8100 
 

(1) Organic constant currency growth is calculated by eliminating the revenue from acquisitions made for a period of twelve months from the acquisition date, and applying prior year exchange rates to convert current year revenues to GBP. The Directors believe that this measure provides investors with information regarding the underlying revenue performance of the Group as it eliminates the effect of acquisitions and the translation effect of currency exchange movements from period to period.

This information is provided by RNS

The company news service from the London Stock Exchange

END

TSTSESFMWFWSEIL

(END) Dow Jones Newswires

April 28, 2017 02:00 ET (06:00 GMT)

1 Year Laird Chart

1 Year Laird Chart

1 Month Laird Chart

1 Month Laird Chart

Your Recent History

Delayed Upgrade Clock