paragon - Refocusing on automotive innovation
paragon’s focus will return to its core Automotive operations once the disposal of the remaining 58% stake in Voltabox is completed. The strategy remains to drive sustainable profitable growth through the development of innovative proprietary technology solutions. The continuing operations showed better than expected sales growth in FY19 and are performing well as pandemic lockdowns ease. FY20 guidance was raised again following Q320 results on 30 October 2020. We expect market recovery and new product ramp-ups to drive a return to growth in FY21.Paragon develops, produces and sells electrical, electronic, and electromechanical components, devices, and systems for the automotive industry. Co.'s segments include Sensors, which develops and markets solutions for air quality within the vehicle cabin; Acoustics, which develops and markets products designed to ensure the transmission of speech from its point of origination to its destination; Cockpit, which develops and markets products for the cockpit; Electromobility, which develops and markets battery packs for utility vehicles and buses; and Body Works Kinematics, which develops and markets technical solutions for the moving parts of the automobile body, both exterior and interior.
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