Share Search
Visit the Share Search
You are here:
Zytronic FY revenues slide amid Covid-19
21st Oct 2020 10:11
(Sharecast News) - Touch sensor overlay products manufacturer Zytronic warned on Wednesday that full-year sales had fallen considerably amid the Covid-19 pandemic.
Zytronic said sales for the twelve months ended 30 September had reduced to £12.7m from the £20.7m recorded in the prior year.
However, the AIM-listed firm stated it had remained profitable before exceptional items relating to restructuring and furlough costs and that full-year underlying earnings were "positive".
Zytonic also added that its cash position continued to be "strong" at £14.0m, up from £13.1m at the same time a year earlier, benefitting from a reduction in 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 group concluded.
As of 1010 BST, Zytronic shares were down 6.09% at 108.0p.
Zytronic said sales for the twelve months ended 30 September had reduced to £12.7m from the £20.7m recorded in the prior year.
However, the AIM-listed firm stated it had remained profitable before exceptional items relating to restructuring and furlough costs and that full-year underlying earnings were "positive".
Zytonic also added that its cash position continued to be "strong" at £14.0m, up from £13.1m at the same time a year earlier, benefitting from a reduction in 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 group concluded.
As of 1010 BST, Zytronic shares were down 6.09% at 108.0p.