Zytronic PLC Trading Update (7102C)
October 21 2020 - 1:00AM
UK Regulatory
TIDMZYT
RNS Number : 7102C
Zytronic PLC
21 October 2020
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 ("MAR")
Zytronic plc
("Zytronic" or the "Company" and, together
with its subsidiaries, the "Group")
Trading Update
At the time of our Interims in early May we explained that, due
to the effects of the COVID-19 pandemic, anything except short term
forecasts were challenging, and the prospects of a positive return
during this financial year would be remote.
Sales for the year to 30 September 2020 have reduced to GBP12.7m
(2019: GBP20.7m) and the business has remained profitable before
exceptional items relating to restructuring and furlough costs.
EBITDA for the year ended 30 September 2020 is positive.
The Group's cash position continues to be strong at GBP14.0m
(2019: GBP13.1m) and has increased by GBP1.6m since 31 March 2020,
benefitting from a reduction in working capital.
Whilst we are still facing uncertainty regarding levels of
future business, particularly from the Gaming and Financial
sectors, Zytronic is in a strong financial position. We expect to
update shareholders and report our full year's results in early
December.
Enquiries:
Zytronic plc
Mark Cambridge, Chief Executive
Claire Smith, Group Finance Director 0191 414 5511
N+1 Singer (Nominated Adviser and
Broker)
Aubrey Powell, Amanda Gray (Corporate
Finance)
Rachel Hayes (Corporate Broking) 020 7496 3000
About Zytronic
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 embedded in a laminate core that 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 five granted patents.
Zytronic operates 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.
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END
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