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Andor Technology
- BY: Andrew Hore |
- POSTED: 12/02/2009 |
- COMMENTS: Add yours
Andor Technology says that trading has continued to be strong in first four months of the financial year to September 2008.
The digital camera technology developer says the weakness of the pound is having a positive effect on its profits.
First half revenues will exceed £15m, which is ahead of expectations. Revenues were £11.5m in the six months to March 2008. All areas of the business are performing well. More than 90% of that revenue is in foreign currencies.
The current positive trading should continue into the third quarter of the financial year. It is difficult to predict further ahead than that
Shares in Andor rose 4.5p to 67.5p each, which values the company at £18.5m. That is still well below the potential 90p a share bid for the company where discussions were ended. It is also still below the 73p a share management bid which the independent directors stopped recommending when trading turned up.
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