LONDON -- Alent reported first-half pretax profits rose 3.7% from a year ago despite a 9.4% drop in revenue.

The materials supplier reported pretax profits of £41.8 million ($70.6 million), up from £40.3 million last year. Revenue for the period fell to £315.9 million ($531.8 million) due to currency factors, lower silver and gold prices, and lower demand for PCB chemistries.

Alent, the parent company of Alpha Metals and Enthone, took one-time charges of £1.1 million due to restructuring, downsizing and facility closings. Adjusted operating profit rose 8.1%.

The company said demand is improving in its key end-markets, suggesting a better outlook.

"We have seen a modest pickup in the electronics, automotive and industrial markets," said chief executive Steve Corbett. "The semiconductor market has strengthened, driving demand for copper damascene and wafer start related products whilst demand for assembly materials and printed circuit board fabrication was modest, albeit stronger than in 2013.

Ed.: 1 GBP = 1.68336 USD

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