Zytronic PLC Trading Update (7102C)

TIDMZYT

RNS Number : 7102C

Zytronic PLC

21 October 2020

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR")

Zytronic plc

("Zytronic" or the "Company" and, together

with its subsidiaries, the "Group")

Trading Update

At the time of our Interims in early May we explained that, due to the effects of the COVID-19 pandemic, anything except short term forecasts were challenging, and the prospects of a positive return during this financial year would be remote.

Sales for the year to 30 September 2020 have reduced to GBP12.7m (2019: GBP20.7m) and the business has remained profitable before exceptional items relating to restructuring and furlough costs. EBITDA for the year ended 30 September 2020 is positive.

The Group's cash position continues to be strong at GBP14.0m (2019: GBP13.1m) and has increased by GBP1.6m since 31 March 2020, benefitting from a reduction in working capital.

Whilst we are still facing uncertainty regarding levels of future business, particularly from the Gaming and Financial sectors, Zytronic is in a strong financial position. We expect to update shareholders and report our full year's results in early December.

Enquiries:

 
 Zytronic plc 
  Mark Cambridge, Chief Executive 
  Claire Smith, Group Finance Director     0191 414 5511 
 N+1 Singer (Nominated Adviser and 
  Broker) 
  Aubrey Powell, Amanda Gray (Corporate 
  Finance) 
  Rachel Hayes (Corporate Broking)         020 7496 3000 
 

About Zytronic

Zytronic is a world-renowned developer and manufacturer of a unique range of internationally award winning optically transparent interactive touch sensor overlay products for use with electronic displays in industrial, self-service and public access equipment.

Zytronic's products employ a sensing solution that is readily configurable and embedded in a laminate core that offers significant durability, environmental stability and optical enhancement benefits to system designers specific requirements.

Zytronic has continually developed process and technological know-how and IP since the late 1990's around two sensing methodologies; the first being single touch self-capacitive which Zytronic markets as PCT(TM) ("Projected Capacitive Technology") and the second being multi-touch, multi-user mutual-capacitive which Zytronic markets as MPCT(TM) ("Mutual Projected Capacitive Technology"), in which Zytronic holds five granted patents.

Zytronic operates from a single site near Newcastle-upon-Tyne in the United Kingdom. Zytronic is relatively unique in the touch eco-system as it offers a complete one-stop solution from processing internally the form and factor of the glass substrates, assembles their touch overlay products to customers specific requirements, in environmentally controlled cleanrooms and develops the bespoke firmware, software and electronic hardware to link the interactive overlays to customer's integrated systems and products.

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

TSTDGBDGDUDDGGG

(END) Dow Jones Newswires

October 21, 2020 02:00 ET (06:00 GMT)