CML Microsystems PLC AGM Statement (5435H)

TIDMCML

RNS Number : 5435H

CML Microsystems PLC

04 August 2021

4 August 2021

CML Microsystems Plc

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

AGM Statement

CML Microsystems Plc, which develops mixed-signal, RF and microwave semiconductors for global communications markets will hold its Annual General Meeting today at 11.00 am. At which Nigel Clark, Executive Chairman, is pleased to provide the following trading update:

Trading Update

I am pleased to report that the Group's trading performance for the opening months of the financial year to 31 March 2022 has got off to a positive start, resulting in a healthy improvement over the corresponding period for the prior year.

Order intake has continued to be relatively strong, reflecting a combination of end-market recovery, new customer traction and general concerns over product availability due to ongoing semiconductor supply chain capacity constraints.

Activities to capture a share of new market application areas remains a priority focus and as we move through the year, we expect to see existing markets recovering back towards more normalised levels.

Subject to the COVID-19 pandemic and ongoing geopolitical trade issues not having any further impact, the Board continues to expect a year of good progress for the Group.

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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

AGMSSUSALEFSELA

(END) Dow Jones Newswires

August 04, 2021 06:00 ET (10:00 GMT)