Laird soars on Asia plans and trading update

Suzie Neuwirth
SHARES in electronic parts maker Laird soared over 12 per cent yesterday, after the FTSE 250 firm said trading was in line with expectations and unveiled its Asian expansion plans.

The company – which makes components for Apple and Samsung – is building a new manufacturing facility in Vietnam and expanding a design centre in South Korea.

“Laird’s intention to expand its footprint in Korea and Vietnam is supportive of the company’s increasing penetration at Samsung and is likely to help allay investor concerns regarding Laird’s high exposure to Apple,” said Vijay Anand, analyst at Espirito Santo. Laird said increased smartphone demand boosted trading in the second half.