Zytronic (AIM:ZYT) shares plummeted another 23% on Wednesday in response to a concerning strategic review and trading update highlighting weak performance and challenging trading conditions.
The specialist in touch sensor manufacturing announced that unaudited revenues for the fiscal year ending 30 September fell to £7.2 million, down from £8.6 million in the previous year.
Despite a 22% increase in revenue during the second half of the year, business intake remained sluggish, and the board does not anticipate a recovery in the near term.
"The board has come to the opinion that it is unlikely that a material recovery will be forthcoming without a strategic catalyst," Zytronic (AIM:ZYT) said in the release.
As part of the strategic review, the company has outlined five possible outcomes, including a potential sale of the business.
Zytronic shares are now trading at 21-year lows.