Alent warns of difficult trading conditions in third quarter

The FTSE 250 group said the challenging environment that has characterised the electronic and automotive sectors led to a 3.5% year-on-year decline in third quarter net sales value at constant currency to £100.7m.

Net sales value in the assembly material business fell 4.2% from the corresponding period in 2014 to £49.6m, while net sales value in the surface chemicals division declined 2.7% year-on-year to £51.1m.

"Net sales value was impacted by the slowdown in the electronics end-markets and continuing headwinds due to lower metal prices in our reclaim business,” the company said in a statement.

“As a consequence of lower product volumes and metal pricing, net sales value margin was down slightly in the period, moderated by strict cost controls.”

Meanwhile, the London-listed company said Platform Specialty, which submitted a £1.35m takeover bid in July, indicated it will make the payment on 7 December.

Alent shares were down 0.52% to 493.50p at 0858 BST on Monday.