Laird starts its £184m rights issue after profits slide

By Aidan Gregory
28 Feb 2017

Laird, a UK supplier of mobile phone parts to Apple and Samsung, launched a £184m ($225.55m) rights issue after it released its full year 2016 results on Tuesday.

Laird made an operating profit of £61.9m, down 23% from 2015, despite having increased its revenue by 27% to £801m.

The company has blamed the drop in profitability on weaker sales and margin pressures in its precision metals business and costs related to its acquisition of Novero, a ...

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