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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Zytronic Plc | LSE:ZYT | London | Ordinary Share | GB0006971013 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 55.00 | 50.00 | 60.00 | 55.00 | 55.00 | 55.00 | 2,382 | 08:00:03 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Magnetc,optic Recordng Media | 8.61M | -1.56M | -0.1539 | -3.57 | 5.59M |
TIDMZYT
RNS Number : 4083E
Zytronic PLC
18 October 2018
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR"). Prior to publication, certain information contained within this Announcement
was deemed to constitute inside information for the purposes of Article 7 of MAR.
Zytronic plc
("Zytronic" or the "Group")
Trading Update
The Board of Zytronic makes the following pre-close statement ahead of the release of its preliminary results for the financial year ended 30 September 2018, which is expected to occur in December 2018.
Trading in the second half of the year showed a 10% improvement in revenues over the first half, totalling GBP11.7m, resulting in total revenues for the year of GBP22.3m which is in-line with market expectations.
However, the increase in business required the introduction of some new designs and production techniques which have resulted in lower than expected margins, particularly in the final two months of the financial year. In addition, a spurious patent claim was settled for GBP72k, plus the Group's own cost of GBP240k. Lower margins coupled with litigation costs have resulted in full year profits before tax of approximately GBP4.2m or GBP4.5m before the litigation costs, being behind market expectations.
The Group continues to be cash generative and is in a robust financial position with cash of GBP14.6m as at 30 September 2018 (30 September 2017: GBP14.1m). Furthermore, it continues as is normal, to address the new product designs and production techniques to bring through improvements to the margins and has several opportunities in its pipeline with the potential to improve future performance materially.
Enquiries:
Zytronic plc 0191 414 5511
Mark Cambridge, Chief Executive
Claire Smith, Group Finance Director
N+1 Singer 020 7496 3000
Aubrey Powell/ Alex Bond, Corporate Finance
Rachel Hayes, Corporate Broking
Notes to Editors
Zytronic is the developer and manufacturer of a unique range of internationally award-winning and patented touch sensor products, operating from three modern factories totalling 80,000ft(2) near Newcastle-upon-Tyne in the United Kingdom.
Zytronic touch products employ an embedded sensing solution and are readily configurable to enable multi-user and multi-touch touch sensing sizes from five inches to ultra-large 85", making them an ideal solution for system designers' specific requirements, offering significant durability, environmental stability and optical enhancement benefits to touch interactivity for industrial, self-service and public access equipment.
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 rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
October 18, 2018 02:01 ET (06:01 GMT)
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