Lower iPhone sales hit Laird profits
Lower iPhone sales have hit profits at smartphone component maker Laird, sending shares tumbling close to 50%.
The FTSE 250 company, whose biggest customers include Apple, said it had suffered muted demand for its products in the three months to 30 September.
That led to a "very challenging trading performance" in the quarter and forced Laird to lower annual profit guidance to about £50m.
Analysts had expected the company to post pre-tax profits of £67m to £80m.
It made profits of £73.1m for the year to December 2015.
The profit warning sent shares crashing by 144p to 163.8p in... read more
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