News blog

Densitron Technologies

• BY: Andrew Hore |
• POSTED: 16/04/2014 |

Electronic displays developer Densitron Technologies had a poor 2013 but cost savings should help the performance to improve this year.

Revenues fell from £22.6m to £20m, while profit slumped from £520,000 to £73,000. That excludes the £593,000 cost of the settlement relating to a Newcastle leasehold property. Net debt was £999,000 at the end of 2013. The dividend has been cut from 0.3p a share to 0.1p a share and that dividend was paid as an interim.

Delays in launching new products and a slow take up in sales from new offices hit the UK revenues while movements in the Japanese Yen increased costs in terms of dollars hit Japanese profit. 

Densitron still holds the lease on the Newcastle property and this lasts until 2023 and the property is being marketed.

The first quarter of 2014 has shown improvement as cost savings come through. Further changes are being made. Densitron has launched epaper displays called Densipaper.

At 5p a share, Densitron is valued at £3.46m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFApril2014_55.pdf