REG - Zytronic PLC - Trading Update

ZytronicAnnouncement

18/08/2022 07:00

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RNS Number : 3932W  Zytronic PLC  18 August 2022

18 August 2022

Zytronic plc

("Zytronic" or the "Company")

Trading Update

Zytronic, a leading specialist manufacturer of touch sensors, provides the
following trading update ahead of its 2022 fiscal year end on 30 September
2022 ("FY22").

As anticipated in the interim results statement issued on 17 May 2022, due to
continued global economic disruptions, the availability and cost of both raw
materials and electronic components have proven to be persistent challenges as
the second half of FY22 has progressed. This has had a knock-on effect on the
Group's customers and has resulted in a lower than anticipated level of order
intake being observed over the second half to date.

As a result of the above and with clearer visibility at this time on revenue
generation for the remainder of the fiscal year, management currently
considers that reported revenues for FY22 are likely to be in the region of 5%
higher than the £11.7m reported for 2021.

Although still a fluid consideration, profitability for the year is currently
expected to be ahead of that reported at the pre-tax level for the year to 30
September 2021.

Whilst global and national economic uncertainties appear likely to continue
beyond the year end, sales and marketing activities are resuming after a near
two-year hiatus.  Working capital expansion is expected to continue in
parallel with this resumption of activity and in response to the current
operating environment. The Group anticipates maintaining a healthy cash
balance at the year-end of approximately £6.0m.

With an improving log of opportunities and the ability to commit further
resources to business development and project progression activities,
management remains confident in the positioning, ongoing recovery, and
longer-term growth prospects for the Group.

This announcement contains inside information and is disclosed in accordance
with Article 7 of the UK Market Abuse Regulation.

 Enquiries:

Zytronic plc                               0191 414 5511

 Mark Cambridge, Chief Executive

 Claire Smith, Group Finance Director

 Singer Capital Markets                     020 7496 3000

 (Nominated Adviser and Broker)

 Aubrey Powell, Rachel Hayes, Amanda Gray

 

 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™ ("Projected Capacitive
 Technology") and the second being multi-touch, multi-user mutual-capacitive
 which Zytronic markets as MPCT™ ("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.

 

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™ ("Projected Capacitive
Technology") and the second being multi-touch, multi-user mutual-capacitive
which Zytronic markets as MPCT™ ("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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