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Zytronic annual sales drop 39% as pandemic hurts demand for touch screens
StockMarketWire.com
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Touch sensor provider Zytronic said its annual sales had slumped 39%, though it had posted positive earnings at an underlying level.
Revenue for the year through September had dropped to £12.7 million, down from £20.7 million year-on-year, the company said in a trading update.
The business, it added, had remained profitable before exceptional items relating to restructuring and furlough costs, with positive earnings before interest, tax, depreciation and amortisation.
Zytronic said its cash position continued to be strong at £14.0 million, having benefited from reduced working capital.
'Whilst we are still facing uncertainty regarding levels of future business, particularly from the gaming and financial sectors, Zytronic is in a strong financial position,' the company said.
'We expect to update shareholders and report our full year's results in early December.'
At 9:04am: (LON:ZYT) Zytronic PLC share price was -7.5p at 107.5p
Story provided by StockMarketWire.com
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