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Trading statements

Alent markets slower than anticipated

26 October 2015 07:19

Alent says its principal end-markets of electronics and automotive were slightly slower than anticipated in the first half of 2015, and this trend continued during the course of the third quarter.

It says industry forecasts for global electronic equipment revenue growth have continued to moderate as we progressed through the period. There have been limited customer new product launches, coupled with the continued slowdown in certain economies, particularly China and South America. The Chinese automotive market was also slower. As a result of this challenging end-market environment, at group level, net sales value (NSV) at constant currency decreased 2.9% in Q3 2015, a decrease of 3.5% on a reported basis, to £100.7m (Q3 2014: £104.3m).

Pricing has remained stable and disciplined cost control maintained, leading to a stable NSV margin for the period. In a declining market, we believe we have grown market share. We are now seeing the expected improvement in the second half of the year reflecting the normal seasonal cycle in electronics.

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