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Technology / AI and automation

KODE SEES BOOM IN SALES BUT SUFFERS FROM STRONG POUND

UK-based Kode International Plc has reported an upturn in its revenue and profits for its interim period, but says it has been affected by the strength of sterling in the six months to June 30. The printed circuit board manufacturer reported profits of 524,000 pounds up from losses of 3,000 pounds last time, while revenue rose slightly by 2.3% to 9.8m pounds. The company says it saw good demand for its technically complex printed circuit boards and has had to recruit additional staff to cope with the increased demand. So far this year, it has employed 20 new members of staff, adding to its existing 400-strong workforce, and chief executive Stephen Day says Kode intends to employ another 15 people before the end of the year. Kode says it is worried by the strength of sterling and the affect it is having on its markets at the moment, but the company hopes that increased demand from the electronics industry will create additional requirements for printed circuit boards, which will enable it to continue to grow. Kode will pay a maintained dividend of 0.75 pence, largely due to the strength of the pound, but Day says he is not worried by this at the moment. He commented: It is only an unchanged dividend for the interim period and I think people realize there is uncertainty in export markets owing to the strength of sterling. Day went on to say that the company will review its dividend at the end of the year.

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CBR Staff Writer

CBR Online legacy content.