LONDON – Holders Technology reported fiscal 2019 revenue fell 2.5% year-over-year to £6 million (US$7.4 million).
The company reported pretax profit of £20,000 (US$24,542) for the fiscal year ended May 31, down 69.2% year-over-year.
Holders said its profit dropped more than two-thirds in its most recently ended fiscal year as a result of challenges in its PCB unit. The company supplies specialty laminates and materials for PCB manufacturers.
PCB revenue has been negatively impacted by the overall economic environment and challenges faced by the automotive industry in Germany.
"Our printed circuit board business continues to face challenges due to unfavorable market conditions,” said executive chair Rudolf Weinreich. “However, printed circuit board operations remain profitable, and management has recently implemented targeted cost savings to further improve profitability."