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Supply chain issues push profits lower for computer firm Psion
Mobile computing services provider Psion yesterday reported a first-half loss and lower revenue, hurt by supply chain issues.
The company, which provides a range of “rugged” hand-held computers, said it is well-positioned to deliver profitable growth in the second half.
Psion reported a pre-tax loss of £5.3m for the six months, compared with a profit of £4.8m last year. Revenue was down four per cent at £81.4m.
It said one product in particular caused shipments towards the end of the first half to be delayed, hurting revenue. The firm’s shares have fallen more than a quarter since the company issued a profit warning last month.
However, it said traction in new products, such as its EP10 PDA device, positions it well for the second half.