Interim Management Statement

RNS Number : 4289U

CML Microsystems PLC

29 July 2015

 

29^th July 2015

CML Microsystems Plc

Interim Management Statement

CML Microsystems Plc, ("the Group"), which designs, manufactures and markets a broad range of semiconductors, primarily for global communication and data storage markets, today held its Annual General Meeting at Layer Marney Tower, Essex. 

Subsequent to the formal proceedings of the AGM and in accordance with the UK Listing Authority's Disclosure and Transparency Rules, the following Interim Management Statement was read to shareholders:

Interim Management Statement

This statement relates to the period from 1 April 2015 to 29 July 2015 and embraces the unaudited results for the Group's opening trading quarter for the financial year ending 31 March 2016.

Continuing progress

Group operating results for the opening quarter are in line with internal forecasts and on track to meet market expectations for the first half.

Gross margins and operating costs are stable. The increased investment in future product development is progressing as planned with the key milestones being met. Cash is in line with internal forecasts.

There have been no material events or transactions since 1 April 2015.

Outlook

The Board remains confident of an improvement in profitability for both the six-month and full year trading periods.

CML Microsystems Plc                                                  www.cmlmicroplc.com

Chris Gurry, Group Managing Director                      Tel: [phone]

Neil Pritchard, Group Financial Director

Cenkos Securities plc                                                     Tel: [phone]

Jeremy Warner Allen (Sales)                                     

Max Hartley (Corporate Finance)

SP Angel Corporate Finance LLP                                   Tel: [phone]

Jeff Keating

Walbrook PR Ltd                                                              Tel: [phone] / [e-mail]

Paul McManus                                                                 

Helen Cresswell                              

 

END

 

 

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