Holders Technology swings to loss amid Covid crisis

Printed circuit board laminate and materials supplier Holders Technology reported group revenue of £9.84m in its final results on Friday, down from £12.16m year-on-year.

The AIM-traded firm recorded an operating loss of £0.25m for the year ended 31 December, swinging from a profit of £0.14m in the prior year, as its loss before tax came in at £0.26m, compared to a 2019 profit before tax of £0.18m.

Basic and diluted losses per share were 6.25p, compared to 4.3p a year earlier, while cash balances at year-end totalled £1.11m, rising from £0.73m at the start of the period.

“Revenue for all divisions was reduced by the economic consequences of the Covid-19 pandemic, particularly the lighting and control solutions divisions,” the Holders board said in its statement.

“The companies have reduced costs whenever possible, and printed circuit board divisions taken together remained profitable.

“However, the lighting and control solutions divisions became loss making.”

The company’s directors said they would recommend payment of a final dividend of 0.25p per share, making for a total of 0.50p for the year, down from 0.75p in 2019.

At 1432 GMT, shares in Holders Technology were up 19.57% at 55p.