Armour manages to optimize operations, is back in black

Electronics company Armour, which supplies components to the home and in-car communication and entertainment markets, reported revenue of £32.1m for the year ended 31 August 2013, down from £34.4m last year, while also posting a pre-tax profit of £53,000 after reporting the deep losses in 2012.

According to a media news report, the Tunbridge Wells firm said it was focusing on developing its international business after noting that its core retail markets remained challenging, particularly in the UK.

In 2013, Armour’s international sales increased by 15 per cent on the prior year and now account 36 per cent of all group sales, up from 29 per cent last year.

George Dexter, chief executive of Armour, said: "The financial results provided hard evidence that the group’s recovery from the impact of the economic downturn is well underway.

"The operating profit of £600,000 in the year represents a £1.8m improvement from the loss reported in the 2012 results.

"All our operating businesses showed good improvement on their prior year performances, and in the case of Armour Home, our home entertainment division, this improvement has been significant."

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