Trading update and result of AGM

 

TIDMDSN 
 
RNS Number : 5287O 
Densitron Technologies PLC 
30 June 2010 
 

 
                           Densitron Technologies plc 
                        Trading update and result of AGM 
Densitron Technologies plc ("Densitron" or the "Company" or the "Group") 
announces that, at the Company's annual general meeting held earlier today, all 
of the resolutions proposed to shareholders were duly passed and today provides 
an update on its trading activities. 
 
 
Displays Business 
 
We are delighted to report that the displays business has performed beyond 
expectations in the first half of 2010.  Order intake has exceeded GBP10.0m in 
comparison with GBP6.0m booked in the same period in 2009 and our internal 2010 
budget of GBP8.5m. Sales and gross profit have returned to similar levels to 
those achieved in the first half of 2008, ahead of our 2010 budget.  We will see 
the full extent of the increase in orders booked during the first half of the 
year flowing through to sales during the second half of 2010. 
 
It has become apparent that confidence in the market globally has markedly 
improved and that the growth seen in the first quarter of the year has not only 
been sustained but has continued to increase during the second quarter of 2010. 
 
We have completed a number of projects in the first half of 2010 which will 
enter production in the second half of the year and new business opportunities 
continue to grow across the Company. 
 
 
Land at Blackheath 
 
The planning application for the land in Blackheath is nearing completion for 
filing with the local planning department. Following that, the planning 
authorities will determine whether permission will be granted for the 
development that has been proposed.  Shareholders will be advised when there is 
further news. 
 
 
Evervision Electronics Co. Ltd 
 
Evervision, the Company's investment in a Taiwanese display manufacturer has 
performed well during the first half of 2010, achieving a profit and continuing 
to generate cash from operations.  A further capital reduction has been approved 
by the Board and Shareholders of Evervision and Densitron should receive a 
payment of approximately GBP500,000 (based on current rates of exchange) during 
September 2010. 
 
 
Outlook 
 
The business outlook is certainly promising.  At the beginning of the year we 
set a three year plan to substantially grow the business and we are already well 
ahead of where we expected to be over the first six months of 2010.  We will 
continue to consider acquisitions opportunities as they arise but will only 
proceed where we consider that they represent value for money. 
 
 
Enquiries: 
 
+------------------------------+------------------------------+ 
| Densitron                    | Westhouse Securities         | 
| Grahame Falconer / Tim       | Tim Metcalfe / Martin        | 
| Pearson                      | Davison                      | 
| Tel: [phone]           | Tel: [phone]           | 
|                              |                              | 
+------------------------------+------------------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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