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Zytronic swings to loss as pandemic hurts sales
StockMarketWire.com
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Touch sensor manufacturer Zytronic swung to a first-half loss, blaming a pandemic-led hit to sales.
Pre-tax losses for the six months through March amounted to £0.3 million, compared to a year-on-year profit of £0.5 million. Revenue fell 35% to £4.8 million.
Zytronic did not declare an interim dividend.
Net cash fell to £7.8 million, down from £14.0m million at the end of September, after payment of £6.7 million for a return of capital.
'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,' chairman Tudor Davies said.
Story provided by StockMarketWire.com
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