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Trackwise Designs sees earnings meeting expectations despite order delays

By BFN News | 07:41 AM | Wednesday 16 January, 2019


Trackwise Designs, a provider of specialist products using printed circuit technology, forecast annual results in line with its expectations amid 'strong' growth in both its radio frequency and improved harness technology divisions. Trackwise said it was experiencing improved profit margins, due to product mix and improved operational efficiencies resulting from a move to a new Ashvale facility at the end of 2017. However, it also said there had been some delays in ordering from harness technology customers. The company also said it had seen some uncertainty regarding the impact of Brexit. Even so, Trackwise said it continued to experience accelerating interest and demand for its harness technology across its chosen markets of aerospace, automotive, space and industrial. '2018 was a transformational year for Trackwise,' chief executive Philip Johnston said. 'We are very pleased with the growth in harness technology revenues during 2018 and see considerable expansion in this area as new markets open up.' 'Current trading remains in line with expectations and we view the future with optimism despite the uncertainties around Brexit and the global economy.' '2019 has begun strongly with an increasing level of enquiries from new customers for harness technology solutions.' Story provided by StockMarketWire.com

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