Rising turnover at Laird puts it on track to meet expectations

ELECTRONICS firm Laird yesterday posted a 10 per cent increase in revenue for the three months to 23 October, as it said it was confident it could meet market expectations for the full year.

Revenue came in at £133m, compared to £121m over the same period last year. Quarter on quarter, revenue for the components and solutions company was up four per cent.

Its performance materials division, which supplies electromagnetic shielding and heat control solutions, saw a jump in revenue to £84m, up from £77m last year.

The FTSE 250 firm, which counts Apple as a major customer, said yesterday it had benefited from its position in new smartphone models.

Revenue increased to £49m in its wireless systems division over the quarter, up from £44m last year.

Laird said yesterday: “The planned new product launches, supported by the capacity expansion that has come on stream, leave us well placed to meet our expectations for the remainder of the year.

“We remain confident that we have the right product offering in place to deliver on our medium- to long-term targets.”