Feb 28 Electronic components maker Laird Plc
reported a marginal fall in full-year profit as higher
research and development spending ate into operating margins.
Laird, which makes electromagnetic shielding and heat
control devices for customers such as mobile devices makers
Apple Inc and Samsung Electronics Co Ltd,
said it expects 2014 to be weighted to the second half.
Laird said underlying profit before tax fell 1 percent to
60.1 million pounds ($100.19 million) in the year ended Dec. 31,
from 60.7 million pounds a year earlier.
Operating margin shrunk to 12.5 percent from 13.1 percent in
2012. Investment in research and development jumped 28 percent.
Revenue from continuing operations increased 3 percent to
537 million pounds, helped by higher demand for Laird's products
used in smartphones and gaming consoles in the second half.
Laird shares closed at 329 pence on the London Stock
Exchange on Thursday.