Trading Update

RNS Number : 3026F
Sarantel Group PLC
08 October 2008
 

8 October 2008

Sarantel Group PLC

('Sarantel', the 'Company' or the 'Group')


Year end trading update


Sarantel (AIM: SLG), the leading manufacturer of revolutionary filtering antennas for mobile and wireless devices, announces a year end trading update for the 12 months to 30 September 2008.


Revenues for the year are expected to be approximately £1.9 million, which is ahead of market expectationsIn the second half of the financial year, demand from smaller niche GPS customers remained resilient largely offsetting a slowdown in orders from larger GPS customers. During September, Sarantel made the first shipments of satellite telephone antennas as part of the order announced on 30 June 2008, from a global satellite phone services provider


The Group has started to gain traction for its third generation GPS antenna and is also in advanced discussions to develop multiple antennas for a number of customers in the satellite phones and military sectors. The Board remains confident about the Group's growth prospects as the order backlog at the end of September 2008 is providing good visibility for the first half of 2009.  


At 30 September 2008, the Group had cash balances of £3 million. Having completed two placings in March and April 2008 of £3.4 million, in aggregatethe Board believes that the Group has sufficient cash resources to support the business for the foreseeable future


On 9 October 2008, the Company will be hosting a visit by institutional investors to its headquarters in Wellingborough. No new material information will be disclosed during this visit.


Sarantel expects to publish its preliminary result for the year to 30 September 2008 in early December.  

 

Enquires:


Sarantel Group PLC


David Wither, Chief Executive Officer

01933 670 560

Sitkow Yeung, Finance Director




John East & Partners Limited

020 7628 2200

John East/Simon Clements




College Hill

020 7457 2020

Adrian DuffieldCarl Franklin


    





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