E2v battling through
Semiconductor maker e2v Technologies has said that full year trading will be only 'marginally below' its previous expectations, as it anticipates a strong second half to follow on from a below par first half.
Semiconductor maker e2v Technologies has said that full year trading will be only 'marginally below' its previous expectations, as it anticipates a strong second half to follow on from a below par first half.
In a trading update for the first half it revealed that expected revenues for the continuing business will be around £90m, reflecting the challenging external environment.
However, it believes that by combining the visibility of potential revenue through the order book with continued cost control and further restructuring it will deliver "a strong second half trading performance".
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Keith Attwood, Chief Executive, said: "The business has responded well to the challenges in our end-user markets and the delays experienced in order bookings. The ongoing cost control, drawing on the flexible cost base we previously put in place and implementing further restructuring, has effectively maintained the profit margin of the business."
Net borrowings at September 30th 2012 were £28m, compared with £32m for the same period in 2011. Although since June 30th net borrowings have increased by £10m, reflecting dividend payments, fit out costs of its new US facility and an increase in working capital mainly related to project delays.
CM
-
Barclays warns of significant rise in social media investment scams
Investment scam victims are losing an average £14k, with 61% of those falling for one over social media. Here's how to spot one and keep your money safe
By Oojal Dhanjal Published
-
Over a thousand savings accounts now offer inflation-busting rates – how long will they stick around?
The rate of UK inflation slowed again in March, boosting the opportunity for savers to earn real returns on cash in the bank. But you will need to act fast to secure the best deals.
By Katie Williams Published