CML Microsystems PLC Trading Update and Notice of Results (2272U)
27 Mars 2023 - 8:00AM
UK Regulatory
TIDMCML
RNS Number : 2272U
CML Microsystems PLC
27 March 2023
27 March 2023
CML Microsystems Plc
("CML", the "Company" or the "Group")
Trading Update and Notice of Results
CML Microsystems Plc, which develops mixed-signal, RF and
microwave semiconductors for global communications markets, is
today issuing a trading update for the year ended 31 March 2023
("FY23").
The Board is pleased to report that trading results for FY23 are
expected to be in line with current market expectations, with
revenues of circa GBP20.5m and profit before taxation close to
GBP3.1m. The forward order book remains healthy and serves to
underpin the outlook for further growth across the next financial
year.
Progress continues towards completion of the recently announced
acquisition of Microwave Technology, Inc. (MwT). The acquisition
remains subject to US regulatory clearance and the requisite
documentation has been filed with the relevant authorities.
Appropriate integration planning activities are underway.
Following the recent grant of planning permissions on excess
land at the Group's Essex Headquarters site, and as a supplement to
normal trading activities, the Board is pleased to report that
completion on the sale of the associated first parcel of land has
now taken place. As a result, an additional profit before tax of
circa GBP2m will be realised in FY23 in the form of other
income.
The Board is very pleased with the progress made throughout FY23
and remains confident in the Group's well documented growth
strategy.
Notice of Results
CML will publish its full year results for FY23 on Tuesday 27
June 2023.
Enquiries:
CML Microsystems Plc www.cmlmicroplc.com
Chris Gurry, Group Managing Director Tel: +44 (0) 1621 875 500
Nigel Clark, Executive Chairman
Shore Capital (Nominated Adviser Tel: +44 (0) 20 7408 4090
and Broker)
Toby Gibbs
James Thomas
John More
Alma PR Tel: +44 (0)20 3405 0205
Josh Royston
Andy Bryant
Matthew Young
About CML Microsystems PLC
CML develops mixed-signal, RF and microwave semiconductors for
global communications markets. The Group utilises a combination of
outsourced manufacturing and in-house testing with trading
operations in the UK, Asia and USA. CML targets sub-segments within
Communication 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 commercial and industrial
product manufacturers.
The spread of its customers and diversity of the product range
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 appetite for data to
be transmitted faster and more securely, the upgrading of telecoms
infrastructure around the world and the growing prevalence of
private commercial wireless networks for voice and/or data
communications linked to the industrial internet of things
(IIoT).
The Group is cash-generative, has no debt and is dividend
paying.
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END
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