Promethean update reveals tough Q4 trading

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Promethean update reveals tough Q4 trading

Simon Quicke

Interactive whiteboard specialist Promethean has delivered a downbeat update to trading revealing that the last quarter of 2010 was a difficult one in terms of trading.

The spotlight has been on the vendor ever since it went public last year, with it being one of the first tech IPO's following the lows of the recession, and the firm has found it fairly tough going.

But it has provided investors and the market with regular updates and its latest, which comes just a month after it's last one, indicates that tight budgets were a feature of Q4.

"As expected, market conditions during the fourth quarter were challenging, and consequently fourth quarter revenues were lower than in the same period in 2009. However, the Group expects revenues for the full financial year to 31 December 2010, to be towards the top end of current market expectations," it stated.

"Promethean intends operating on the basis that market conditions will continue to be challenging for the foreseeable future, particularly in the United States. Promethean is therefore aligning its cost base to these market conditions," it added.

The vendor is showing off its latest product, a touch and pen screen, at the education BETT show which kicks off in London today.
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