CML Microsystems PLC Interim Management Statement (8938M)
02 August 2017 - 8:23PM
UK Regulatory
TIDMCML
RNS Number : 8938M
CML Microsystems PLC
02 August 2017
02 August 2017
CML Microsystems Plc
("CML" or "the Group")
Interim Management Statement
CML Microsystems Plc ("CML" or "the Group"), which designs,
manufactures and markets mixed-signal and Radio Frequency (RF)
semiconductors, primarily for global communication and solid state
storage markets, today held its Annual General Meeting at Pontlands
Park, Chelmsford, Essex.
Subsequent to the formal proceedings of the AGM the following
update on current trading was read to shareholders by the
Chairman:
Interim management statement
This statement relates to the period from 1 April 2017 to 2
August 2017 and embraces the unaudited results for the Group's
opening trading quarter for the financial year ending 31 March
2018.
Trading update and outlook
As anticipated, the first few months of the current financial
year have shown positive results. The Group's order bookings have
remained strong and the outlook for the year remains consistent
with market expectations for both the first half and full year
trading periods.
As previously mentioned in the Full Year Results statement for
the year ended 31 March 2017, we commenced the current financial
year with a higher cost base following prior year investments in
headcount and R&D, however with the right teams and structure
in place the enlarged Group continues to deliver revenue and profit
growth.
We remain confident in our ability to deliver another year of
profitable growth.
CML Microsystems Plc www.cmlmicroplc.com
Chris Gurry, Group Managing Tel: +44(0)1621 875
Director 500
Neil Pritchard, Group
Financial Director
Cenkos Securities plc Tel: +44(0)20 7397 8900
Alex Aylen (Sales)
Max Hartley (Corporate
Finance)
SP Angel Corporate Finance Tel: +44(0)203 463 2260
LLP
Jeff Keating
Alma PR
Josh Royston Tel: +44 (0)7780 901979
Robyn Fisher Tel: +44 (0)7540 706191
About CML Microsystems PLC
CML designs and develops semiconductors for the industrial
storage and communications markets. The Group utilises a
combination of in-house and outsourced manufacturing and 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 no borrowings and is dividend
paying.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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