Pre-Close Trading Update and Notice of Results

RNS Number : 2925N

CML Microsystems PLC

29 September 2021

 

29 September 2021

CML Microsystems Plc

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

Pre-Close Trading Update and Notice of Results

CML Microsystems Plc (the "Group" or the "Company"), which develops mixed-signal, RF and microwave semiconductors for global communications markets, today issues its pre-close trading update for the six-months to 30 September 2021.

We are pleased to report that the positive momentum seen within the business towards the end of the prior financial year has continued through the opening six-month period, with a healthy trading performance being recorded.

Revenues are currently tracking ahead of management expectations, with the associated benefits of operational leverage flowing through. New order intake has been good, assisted by improving end market conditions and increased demand linked to customer concerns around supply chain constraints within the semiconductor market generally.

The strong start to the year, coupled with a prudent degree of uncertainty around actual customer demand through the second half, opens the possibility for full year profitability to be weighted to this first half.

The Board is pleased with the progress being made following the transformational events of the previous year and believes the Group remains on track to achieve existing market expectations for the full year.

Notice of Results

CML will publish its Half Year Results for the period to 30 September 2021 on Tuesday 24 November 2021.

CML Microsystems Plc Chris Gurry, Group Managing Director Nigel Clark, Group Executive Chairman	www.cmlmicroplc.com Tel: [phone]
Shore Capital Edward Mansfield James Thomas John More	Tel: [phone]
SP Angel Corporate Finance LLP Jeff Keating	Tel: [phone]
Alma PR Josh Royston Caroline Forde Andy Bryant Matthew Young	Tel: [phone]

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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