Promethean sinks on annual loss

Electronic whiteboard maker Promethean World yesterday reported a 30 per cent drop in revenues to £157m and swung to a net loss of £3.8m for the year. The firm pointed out that operating costs fell 18.5 per cent as it reacted to tough conditions in the European and US education markets, leading to £158.4m in net exceptional costs for 2012. Promethean will not pay a dividend for the year in light of its trading. Shares in the FTSE All Share-listed firm sank 21.7 per cent to 18p.