Zytronic PLC Trading Update (8242X)
02 May 2019 - 4:00PM
UK Regulatory
TIDMZYT
RNS Number : 8242X
Zytronic PLC
02 May 2019
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 ("MAR"). Prior to
publication, certain information contained within this announcement
was deemed to constitute inside information under MAR.
ZYTRONIC PLC
("Zytronic" or the "Company")
Trading update
The Company provides the following trading update ahead of its
interim results for the first half, which are due to be announced
on 14 May 2019 and are expected to show revenues of GBP9.5m (2018
H1: GBP10.6m) and profit before tax of GBP1.4m (2018 H1:
GBP2.2m).
The reduction in revenues and profits are due to the decline of
the sales of products into the Gaming sector, which has only been
partially offset by a stronger performance in other sectors.
Despite there still being an encouraging pipeline of opportunities
in Gaming, the pace of conversion to orders in the year to date has
been much slower than the Board had anticipated.
Although trading in the second half of the financial year is
usually stronger than the first half, Zytronic is cautious on the
level and timing of recovery of sales in the Gaming sector and
therefore on the expected performance for the second half.
The Company continues to be cash generative and is in a strong
financial position, with net cash of GBP12.1m as at 31 March 2019.
The Board anticipates maintaining the interim dividend at a similar
level to that paid in the previous year. Zytronic remains in a
position of having several opportunities with the potential to
materially improve future performance.
For further information, please contact:
Zytronic plc 0191 414 5511
Mark Cambridge, Chief Executive
Claire Smith, Group Finance Director
N+1 Singer 020 7496 3000
(Nominated Adviser & Broker)
Aubrey Powell / Alex Bond (Corporate Finance)
Rachel Hayes (Corporate Broking)
Notes to Editors
Zytronic is a world renowned developer and manufacturer of a
unique range of internationally award winning optically transparent
interactive touch sensor overlay products for use with electronic
displays in industrial, self-service and public access
equipment.
Zytronic's products employ a sensing solution that is readily
configurable and is embedded in a laminate core which offers
significant durability, environmental stability and optical
enhancement benefits to system designers specific requirements.
Zytronic has continually developed process and technological
know-how and IP since the late 1990's around two sensing
methodologies; the first being single touch self-capacitive which
Zytronic markets as PCT(TM) ("Projected Capacitive Technology") and
the second being multi-touch, multi-user mutual-capacitive which
Zytronic markets as MPCT(TM) ("Mutual Projected Capacitive
Technology"), in which Zytronic holds eight granted patents.
Operating from a single site near Newcastle-upon-Tyne in the
United Kingdom, Zytronic is relatively unique in the touch
eco-system as it offers a complete one-stop solution from
processing internally the form and factor of the glass substrates,
assembles their touch overlay products to customers specific
requirements, in environmentally controlled cleanrooms and develops
the bespoke firmware, software and electronic hardware to link the
interactive overlays to customer's integrated systems and
products.
Further information for investors can be found on the Company's
corporate website, www.zytronicplc.com, and additional information
on the Company's technology and products is available at
www.zytronic.co.uk.
Persons responsible for arranging the release of this
announcement:
Mark Cambridge, Chief Executive
Claire Smith, Group Finance Director
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 rns@lseg.com or visit www.rns.com.
END
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