REG - CML Microsystems PLC - Trading Update and Notice of Results

CML MicrosystemsAnnouncement

28/09/2022 07:01

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RNS Number : 9052A  CML Microsystems PLC  28 September 2022

28 September 2022

CML Microsystems Plc

("CML", the "Company" or the "Group")

Trading Update and Notice of Results

Positive momentum, trading ahead of market expectations

CML Microsystems Plc (the "Group" or the "Company"), which develops
mixed-signal, RF and microwave semiconductors for global communications
markets, is pleased to today issue a trading update for the first half of the
current financial year (six-month period to 30 September 2022).

The Board is pleased to report that trading for the first half has been
strong. Revenues are expected to be well ahead of last year on a constant
currency basis and have been further boosted by an exchange rate tailwind.
Gross margin has remained robust whilst overheads are in line with
expectations. As a result, profitability is expected to be significantly ahead
of management's earlier expectations.

At the current rate of trading and based on current exchange rates, the Board
expects that for the full year ending 31 March 2023 both revenues and
profitability will be ahead of market expectations.

Research and development activities, operational investments and the
introduction to market of new products are all proceeding well, and the
forward order book remains healthy.

The Board remains confident in the Group's strategy and its ability to deliver
significant, sustainable growth over the coming years.

Notice of Results

CML will publish its Half Year Results for the period to 30 September 2022 on
Tuesday 22 November 2022.

This announcement relates to the disclosure of information that qualified or
may have qualified as inside information for the purposes of article 7 of the
market abuse regulation (EU) 596/2014 as it forms part of UK domestic law by
virtue of the European Union (withdrawal) act 2018.

Enquiries:

 CML Microsystems Plc                            www.cmlmicroplc.com (http://www.cmlmicroplc.com/)

  Tel: +44(0)1621 875 500
 Chris Gurry, Group Managing Director

Nigel Clark, Executive Chairman

 Shore Capital (Nominated Adviser and Broker)   Tel: +44(0)20 7408 4090

 Advisory
 Toby Gibbs

James Thomas

John More

 Corporate Broking
 Fiona Conroy

 Alma PR                                        Tel: +44 (0)20 3405 0212

 Josh Royston

Andy Bryant

Matthew Young

 

UK MAR: This announcement is released by the Company and contains information
that qualified or may have qualified as inside information for the purposes of
Article 7 of the Market Abuse Regulation (EU) 596/2014 ("MAR") as it forms
part of UK domestic law by virtue of the EUWA ("UK MAR"), encompassing
information relating to the trading performance of the Company. For the
purposes of UK MAR and Article 2 of the binding technical standards published
by the Financial Conduct Authority in relation to MAR as regards Commission
Implementing Regulation (EU) 2016/1055, this announcement is made by Chris
Gurry, Group Managing Director.

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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