Optical components maker sees red

Fife-based optical components group Spanoptic produced a marginal loss in its last financial year.

The group’s annual report for the year to September 30 2016 shows the Glenrothes-based firm slipped into the red with a £23,898 loss after tax from total revenue of £5.7 million.

The figures compare to a £309,510 profit in the prior year when turnover was higher at £6.57m.

Spanoptic is based at Eastfield Industrial Estate in Glenrothes and is a subsidiary of Somerset-based Gooch & Housego.

The accounts show the UK remains Spanoptic’s number one target, with sales into the domestic marketplace of £4.1m last year.

The company generated sales of £1.3m in Europe and shipped £245,000 of components to wider world markets during the year.

Spanoptic’s directors said they were satisfied by the performance in the year.

An interim dividend of £5.36 per share was paid, but no final dividend was proposed by the company.