Home and in-car electronics supplier Armour Group has returned to operating profit in the first five months of the current financial year.
Gross margins improved by more than two percentage points and like-for-like operating costs were 15% lower. Both divisions are profitable with the home entertainment side showing the most significant improvement in trading and moving from loss to profit. New product launches should further improve trading over the coming six months.
Automotive profit is in line with the previous year and a strong second half is expected, so full year profit should be higher. Driver monitoring systems provide positive sales prospects. A second generation of iO branded music streaming and hands free products were recently launched.
House broker finnCap forecasts a profit of £100,000 in the year to August 2013. Any improvement in the retail sector
At 3.75p a share, up 0.75p, Armour is valued at £3.64m.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFFebruary2013_41.pdf
© 2021 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.