TECHNOLOGY firm Promethean today announced a huge drop in sales — and sounded a warning on future trading conditions.

The Blackburn-based interactive whiteboard maker, which earlier this year made redundancies, said revenue in the first quarter of 2011 was £41.9million, 22 per cent down on 2010’s £53.9million.

In the first three months of the year, Promethean sold 204,000 whiteboards and handsets, compared with 309,000 last year.

The company, of Lower Philips Road, Blackburn, said that trading was in line with expectations given how governments across the world have slashed education spending.

But it warned that conditions are not likely to get better soon.

Ahead of yesterday’s AGM, Promethean said: “Long-term demand drivers remain strong, but market conditions will remain challenging at least through 2011, due to public sector budgetary uncertainties and constraints, and (Promethean) is planning its business on this basis.”

Earlier this year, Promethean axed ‘a handful’ of Blackburn jobs in a bid to cut costs.

Its share price today was 62.7p, less than a third of last year’s 200p high.