GALASHIELS, SCOTLAND -- Holders Technology swung to a first-half loss of GBP226,000 ($267,447) on lower revenue due in part to the sale of its printed circuit board laminates unit.
For the six months ended May 31, Holders' revenue fell 40% from a year ago to GBP3.5 million. Printed Circuit Board division revenue fell 68% to GBP1.2 million.
The company restructured the division during the period. Last fall, the company's UK and German subsidiaries agreed to sell certain printed circuit board assets for €1.9 million ($2.2 million), and refocused on the supply of specialty PCB materials.
Holders said in a statement, "While we are cautious regarding the global economic outlook, we remain confident that future performance will demonstrate the validity of this approach."
1 GBP = 1.18340 USD
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