Companies: DSN   

This electronics group has been complaining for a long time that the market is completely undervaluing its shares. And as if to ram the point home the group has sold its microwave subsidiary, which only accounts for 22% of turnover, for £8m - 60% more than the market value of the entire business. The figures for the full year to December though go some way to explain why the market is reluctant to mark the group up. Turnover dropped to a disappointing £38.8m (£39.3m) and the pre-tax line slumped 65% to £605,000. The group blamed the strong pound and the uncertainty in the Far East for the poor performance. Even more disappointingly for shareholders, there was a loss per share of 3.4p (against earnings last time of 1.66p) and the dividend was passed.