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Armour Group

  • BY: Andrew Hore |
  • POSTED: 02/05/2012 |

Shares in Armour Group fell by more than one-fifth after it admitted that UK sales volumes of its consumer electronics business were lower than last year.

At 3.12p a share, down 0.88p, Armour is valued at 3.03m.

The consumer electronics business had been expected to return to profit this year but it will continue to lose money even after cost cutting. Weak consumer confidence is hitting the business.

Although the automotive division is profitable as demand grows for its antenna from vehicle manufacturers, the group as a whole will lose money this year. The loss should be smaller than last year.

The interim figures will be published by the end of May. 

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