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Laird looks beyond flat start

A wave of higher-margin new products compensated for flat organic revenues at Laird (LRD) last year to drive underlying pre-tax profit up 17 per cent to £60.7m. That beat consensus estimates and more launches from Apple and Samsung mean the second half of 2013 will be better than the first. However, dropping lower-margin work, and inventory juggling at Apple, will make for a flat first quarter.

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