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BRIEF-Laird warns of lower full-year profit
October 19, 2016 / 6:35 AM / a year ago

BRIEF-Laird warns of lower full-year profit

Oct 19 (Reuters) - Laird Plc :

* Q3 trading update

* Acceleration of production for mobile devices has come much later than in previous cycles and visibility on volumes remains poor

* After a disappointing first half, a significant improvement in second half of 2016 was expected, particularly in performance materials (PM) division

* In addition, we have experienced increased margin pressure due to unprecedented pricing pressures and some operational factors.

* However, acceleration of production for mobile devices has come much later than in previous cycles and visibility on volumes remains poor

* This has led to a very challenging trading performance in PM in Q3 and we now anticipate full year group underlying profit before tax to be around 50 mln stg

* Revenue in sterling for Q3 increased by 29 pct to 207 mln stg (Q3 2015: 160 mln stg). On an organic basis at constant currency, revenue was lower by 4 pct Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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