Trackwise expects FY revenues to be lower than originally expected

Printed circuit technology products provider Trackwise warned on Friday that full-year revenues were now projected to be lower than originally expected.

Trackwise expects to report full-year revenues of approximately £6.1m, up from £2.9m a year earlier, while adjusted operating losses came to £200,000.

The AIM-listed group highlighted that while revenue was lower than expected, the operating loss was in line with current market expectations.

Chief executive Philip Johnston said: "2020 was a transformational year for Trackwise, as we made substantial progress in expanding and upgrading our manufacturing facilities including the acquisition of SCL, and secured our first series production order from an electric vehicle manufacturer.

"We are in discussions with an ever-growing number of potential customers and the opportunities ahead of us in our primary target markets and the longer-term prospects for Trackwise continue to grow."

As of 1040 GMT, Trackwise shares were down 7.58% at 305.0p.