Trading update and result of AGM (2570J)

TIDMDSN

RNS Number : 2570J

Densitron Technologies PLC

28 June 2011

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 the Company provided an update on its trading activities.

Displays Business

We are delighted to be able to announce that the Company has built on the substantial growth achieved during 2010 as the growth in the displays business has continued in the first half of 2011.

Order intake for the first six months will be in the region of GBP11.6m compared with GBP10.6m booked in the same period in 2010. Sales and gross profit have increased substantially and we expect to finish the first half with sales of approximately GBP11.0m and gross profit of GBP3.2m compared with GBP8.6m and GBP2.6m respectively achieved in the first half of 2010. We expect to achieve net profits for the first six months along similar lines to those achieved for the full year in 2010.

Demand for our products remains strong and a number of projects have either been completed in the first half of the year or will be concluded early in the second half. This gives us sufficient visibility to be confident that we should be able to satisfy market expectations as to full year performance.

Land at Blackheath

We have previously reported that our application for development of the land at Blackheath was, as expected, rejected by the local Council. That decision has now been appealed and we are currently in discussion with the Planning Inspectorate as to what form that appeal should take. We are also pursuing other avenues to further the cause for development but believe that any resolution in this matter will be in the medium term.

Outlook

The outlook for the displays business is very good and we remain on track with our three year plan. While the existing business continues to grow we consider there are also opportunities to expand our global capabilities further. We opened an office in Italy during 2010 which is already delivering significant opportunities and we have plans to replicate this model in India later in the year and, possibly, China during 2012.

Enquiries:

 
Densitron                        Westhouse Securities 
 Grahame Falconer / Tim Pearson   Tom Price / Martin Davison 
 Tel: [phone]               Tel: [phone] 
 

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