Zytronic falls as profits disappoint
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AIM-listed touch technology specialist Zytronic (LON:ZYT) has said that trading during the second half of the year ended 30th September was stronger than in the first, resulting in revenues of £22.3 million. However, this has meant a drop in margins due to the costs of new designs and production techniques. Together with the costs related to a spurious patent claim, this means that profits before tax will be below market expectations at about £4.2 million.
Management said that there were opportunities in the pipeline to further improve the business’s performance and work is ongoing to improve the margins on its newer products and process. Shares in Zytronic fell by 8.47% to 389p (as of 10:30 BST).
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