New smartphones and gaming consoles boost Laird's revenues
(City A.M. (UK) Via Acquire Media NewsEdge) ELECTRONIC parts manufacturer Laird rose to the top of the FTSE 250 yesterday, after growth in the gaming console and smartphone markets boosted its third-quarter revenues.
Total revenue in the third quarter increased by six per cent year-on-year to £141m and by 15 per cent quarter-on-quarter, the firm said yesterday.
Revenue in the performance materials division rose 26 per cent quarter-on-quarter to £93m, due to new products launched by Laird's customers in the gaming console and smartphone markets.
"We are making good strategic progress and our expectations for the year remain unchanged," said chief executive David Lockwood.
The firm's shares eventually closed 8.1 per cent higher yesterday at £243.9.
(c) 2013 City A.M.
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