Apple supplier Laird Plc warned on its full-year profit, saying that acceleration in production for mobile devices this year had come in much later than seen in previous cycles and that it had “poor” visibility in order volumes.
The electronic components maker said it expected full-year underlying profit to be about 50 million pounds ($61 million), also partly blaming margin concerns due to increased pricing pressure.
Laird had not previously given any guidance for the full year. It had reported comparable profit of 73.1 million pounds in the year ended December 2015. ($1 = 0.8149 pounds) (Reporting by Pranav Kiran in Bengaluru; Editing by Gopakumar Warrier)