Microsaic Systems plc Trading Update (7308Q)

TIDMMSYS

RNS Number : 7308Q

Microsaic Systems plc

30 June 2022

30 June 2022

Microsaic Systems plc

("Microsaic" or the "Company")

Trading Update

H1 2022 revenues up 40% due to new services division

Strong H2 2022 order book for services continues to grow

Microsaic Systems plc (AIM: MSYS), is pleased to announce an unaudited trading update for the six months ended 30 June 2022 ("H1 2022"). The launch of the Microsaic Services Division, earlier this year, has resulted in an uplift of 40% in revenues to GBP701k in H1 2022 (H1 2021: GBP499k) and a healthy order book for H2. The provision of these services only commenced in April and include R&D Engineering Consultancy, Analytical and AI Software Service Programmes designed for the medical device, environmental, aerospace and food industries.

The Company's website has also been updated to highlight the additional services being offered by the Microsaic team.

Gerry Brandon, Acting Executive Chairman of Microsaic Systems plc, commented

" Microsaic's new high-tech services division has quickly generated revenues and has helped transition the Company from product sales to customer-centric service solutions in Human and Environmental Health so far. We are exploring opportunities and already identified multiple sources of revenues including strategic partners and OEM agreements, we have a healthy order book for H2 2022 which is the strongest ever going in to the second half ."

Enquiries:

 
 Microsaic Systems plc                        [phone] 
 Gerry Brandon, Executive Chairman 
 
 N+1 Singer (Nominated Adviser & Joint 
  Broker)                                      [phone] 
 Aubrey Powell / George Tzimas (Corporate 
  Finance) 
 Tom Salvesen (Corporate Broking) 
 Turner Pope Investments (TPI) Limited 
  (Joint Broker) 
  Andy Thacker / James Pope                   [phone] 
 
 

Market Abuse Regulation (MAR) Disclosure

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About Microsaic Systems

Microsaic floated on AIM in 2011 to develop and commercialise micro-engineering chip-based mass spectrometry equipment. Having invested c. GBP30m over 20 years of development, Microsaic has a robust and innovative patent portfolio in cutting-edge technology designed and developed for "Industry 4.0" application. Microsaic serves markets in Human Health, Environmental Health and Diversified Industries. Microsaic's system solutions enable analytical detection and characterisation at the point-of-need, whether within a conventional laboratory setting, or within a bioprocessing facility for continuous MS detection data at multiple steps in the process workflow.

Microsaic's products and systems are commercially available through global markets via a network of regional and local partners, targeting its core laboratory, manufacturing and point of need applications .

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June 30, 2022 02:00 ET (06:00 GMT)