Today's Q3 trading update said Revenue for the first nine months of FY17 is up 23%.
Companies: Laird Superfood, Inc.
Electronic Engineering firm Laird (LON: LRD) has seen a slight jump in its share price this morning as a result of its promising Q3 trading update out today.
The update said the turnaround seen in H1 17 after its lacklustre year in FY16 continued into Q3 17, with Revenue growth of 19% to £245m when compared to the same period last year. On a constant currency basis, Revenue growth was 16%.
Year to date Revenue spiked 23% to £686m - a 12% jump on a constant currency basis.
As a result of the improved performance Management went on to comment:
"We anticipate reporting full-year underlying profit before tax towards the top end of current market forecasts for 2017."
As it stands, these forecasts range between £60m and £65m. For comparison, Laird reported Underlying PBT of £62m in FY16 and £81m in FY15.
Shares in LRD rose 4% to 158p after the announcement.
The Group, who supplies a wide range of systems and components that protect electronics from radio waves, microwaves as well as heat has several high-profile clients in its order book, including Apple.
Its full-year results are expected in March 2018.
The stock has struggled to recover after a Q3 16 trading update this time last year sent the share price tumbling almost 95% in a single day, falling from 237p to 122p. It trades on a current price to earnings multiple of 11x and has a Market Cap of £744m.
Consensus forecasts a 12-month rolling PE ratio the same as the industry median of 14x.