 were boosted by a 15pc rise in revenue on Friday, after the company announced a trading update for the first quarter.){kind=link}
Shares in technology company Laird (LON:LRD) were boosted by a 15pc rise in revenue on Friday, after the company announced a trading update for the first quarter.
Revenue rose to £197 million in a solid start to 2017, with revenue from performance materials up 10 percent to £92 million. The company, who specialise in providing engineering solutions that protect electronics from electromagnetic interference and heat, saw revenue rise 8 percent on an organic constant currency basis.
Tony Quinlan, the group’s chief executive, said he was “encouraged” by the overall trading performance in the first quarter.
“We have seen continued strong revenue growth in Connected Vehicle Solutions, solid growth in Performance Materials, and the Wireless and Thermal Systems Division tracking in line with our expectations,” he continued.
“While it is still early in the year, our performance in the first quarter gives us confidence that the measures taken to improve our performance in 2017 are on track.”
Laird’s stock had its “buy” rating restated by research analysts at Berenberg Bank in a research note issued on Tuesday, putting a target price of 185 pence. Currently shares are trading up 5.49 percent to 149.02 (1056GMT).