Spectra Systems soars after confident trading update
Spectra Systems announced Monday it had seen strong trading in the year to date thanks to unexpectedly high sales of its phosphor products and a full year of stronger margins in its in-house manufacturing.
FTSE AIM All-Share
745.67
17:08 19/04/24
Spectra Systems Corporation
223.00p
16:50 19/04/24
Support Services
10,465.25
17:10 19/04/24
The bank note authentication firm will release its fully audited half year report on 5 September but said it expects to "significantly exceed expectations" for pre-tax profit and cash flow for the full year.
Dr. Nabil Lawandy, chief executive of Spectra Systems said, "We are very pleased with trading this year and are now confident that the Company will significantly exceed market expectations for the full year."
As of 0925 Spectra shares had shot up 21.33% to 91.00p.