Andor shares take a nosedive

SHARES in Andor Technology dived nearly 10% yesterday after the Belfast-based digital imaging company issued a profit warning.

The company, which listed on London’s Alternative Investment Market (AIM) last year, blamed changes in its production processes for a once-off drop in output in the three months to June. “While we remain confident that both revenues and profit will be in excess of the interims, we believe that profits for the year ended 30 September will be materially lower than market expectations,” the company told the stock exchange.

Andor said the loss suffered while the new procedures were bedding down would not be recovered before year-end.