(CercleFinance.com) – Avenir Telecom reported yesterday evening a drop of almost half in its half-yearly turnover, which resulted in a drop of more than 10% in its stock on the Paris Stock Exchange.
The designer and distributor of mobile phones and mobility accessories under the Energizer brand achieved a turnover of 7.3 million euros over the period from April 1 to September 30, compared to 13.6 million euros a year earlier.
The group explains that it suffered from the sharp decline in orders from its former first client, who himself had lost his two largest contracts, and from the cessation of its sales of laptops and tablets.
Apart from these two elements, the decline in activity remained ‘controlled’, in line with the decline in the smartphone market, assures the company in a press release.
With available cash of 24.3 million euros, Avenir Telecom says it wants to continue its investments in ‘feature phones’ (mobile devices with basic functionalities) and product diversification around its new brand.