NewsShares of Holders Technology surge on a swing up...

Shares of Holders Technology surge on a swing up in FY 2021 pretax profit

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A general improvement in economic conditions boosted revenue at Holders Technology PLC, which led to an 11% jump in the stock price on Monday. Holders Technology PLC has now reported a swing to pretax profit for fiscal 2021 on higher revenue.

The London-listed provider of printed circuit board materials and lighting and control services made a pretax profit of 787,000 pounds ($1 million) for the year ended November 30, 2021, compared to a loss of GBP264,000 a year earlier.

The lighting and control solutions business accounted for a significant portion of the company’s annual revenue increase of GBP12.4 million, up from GBP9.8 million.

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The board has announced a final dividend of 0.50 pence a share, bringing the total dividend for the year to 3.0 pence compared to the previous 0.50 pence dividend. A special dividend of 2.0 pence was paid earlier this year as a result of the sale of some printed-circuit-board assets.

However, “the potential impact on our immediate business outlook is inevitable, but we can say that, in part due to the recent disposal of certain activities, we have a strong balance sheet,” Chairman Rudi Weinreich said. This, coupled with the opportunities we perceive, leaves us “well positioned to meet our challenges in the years ahead,” he added.

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James
Jameshttp://Shouzy.com
Technology has been James's passion for over a decade. After graduating from the University of Chester with a Bachelor of Arts degree in Journalism in 2006, started writing full-time shortly after. Over the years, he has worked on everything from Windows XP to Red Star OS, but more recently has settled into the Apple ecosystem. A regular contributor at shouzy.com, James writes about iOS, macOS, and Apple hardware.

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