CML Microsystems PLC AGM Interim Management Statement (3843U)
July 29 2020 - 5:45AM
UK Regulatory
TIDMCML
RNS Number : 3843U
CML Microsystems PLC
29 July 2020
CML Microsystems Plc
AGM Interim Management Statement
CML Microsystems Plc (the "Group" or the "Company"), which
designs, manufactures and markets semiconductors, primarily for
global communication and solid state storage markets, today issues
the following trading update at its AGM for the period 1 April 2020
to 31 July 2020.
Trading Update
Total revenues and profit before tax for the opening months of
the financial year to 31 March 2021 have tracked slightly above
management expectations, with new order intake for Storage products
continuing to be at a healthy level. Recent market demand for the
Group's Communication products has been challenging.
We ended the previous financial year with the business tuned to
react swiftly as market conditions improve and that situation
remains. Geopolitical and pandemic headwinds continue to feature,
making future predictions highly speculative but it is pleasing to
see an improvement from the Storage market.
Order intake between now and the end of September will be a key
indicator for the shape of a recovery, but the Board continues to
believe we have the correct people, products and strategy in place
to drive growth as the trading environment improves.
CML Microsystems Plc www.cmlmicroplc.com
Chris Gurry, Group Managing Tel: +44(0)1621 875 500
Director
Nigel Clark, Group Chairman
and Financial Director
Shore Capital Tel: +44(0)20 7408 4090
Edward Mansfield
James Thomas
SP Angel Corporate Finance Tel: +44(0)203 463 2260
LLP
Jeff Keating
Alma PR Tel: +44 (0)20 3405 0212
Josh Royston
Caroline Forde
Robyn Fisher
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 a net cash position and is
dividend paying.
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END
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