22 October 2019
CML Microsystems Plc
(The "Company" or the "Group")
Half Year Trading Update
Notice of Results
CML Microsystems Plc, which designs, manufactures and markets semiconductor solutions primarily for global communication and solid state storage markets, today issues the following trading update for the period from 1 April 2019 to 30 September 2019.
As anticipated, and in accordance with management expectations, trading has remained stable across the first six months of the financial year, in line with the preceding six-month period.
The Board expects to report unaudited half-year results comprising Group revenue of £13.1m and a pre-tax profit of approximately £0.9m. Net cash reserves amounted to £11.2m at 30 September 2019 following payment of a £1m dividend in August in respect of the prior financial year.
The Company will publish its unaudited half year results for the period ended 30 September 2019 on Tuesday 19 November 2019.
CML Microsystems Plc
Chris Gurry, Group Managing Director
Tel: +44(0)20 7408 4090
SP Angel Corporate Finance LLP
Tel: +44(0)20 3463 2260
Tel: +44 (0)20 3405 0212
About CML Microsystems PLC
CML designs and develops semiconductors for the industrial storage and communications markets. The Group has trading operations in Europe, the Far East and USA. CML targets niche markets with strong growth profiles and high barriers to entry. It has secured a diverse, blue chip customer base, including some of the world's leading telecoms equipment providers and industrial product manufacturers.
The spread of its customers and products largely protects the business from the cyclicality usually associated with the semiconductor industry. Growth in its end markets is being driven by factors such as the ever increasing trend towards solid state storage devices in the commercial and industrial sectors, the upgrading of telecoms infrastructure around the world and the growing prevalence of private commercial communications networks for voice and/or data communications linked to the industrial internet of things (IIoT).
The Group is cash-generative, has a net cash position and is dividend paying.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
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