Information  X 
Enter a valid email address

Zytronic PLC (ZYT)

  Print          Annual reports

Thursday 02 May, 2019

Zytronic PLC

Trading Update

RNS Number : 8242X
Zytronic PLC
02 May 2019
 

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 under MAR.

 

 

ZYTRONIC PLC

("Zytronic" or the "Company") 

Trading update

The Company provides the following trading update ahead of its interim results for the first half, which are due to be announced on 14 May 2019 and are expected to show revenues of £9.5m (2018 H1: £10.6m) and profit before tax of £1.4m (2018 H1: £2.2m). 

The reduction in revenues and profits are due to the decline of the sales of products into the Gaming sector, which has only been partially offset by a stronger performance in other sectors.  Despite there still being an encouraging pipeline of opportunities in Gaming, the pace of conversion to orders in the year to date has been much slower than the Board had anticipated. 

Although trading in the second half of the financial year is usually stronger than the first half, Zytronic is cautious on the level and timing of recovery of sales in the Gaming sector and therefore on the expected performance for the second half.

The Company continues to be cash generative and is in a strong financial position, with net cash of £12.1m as at 31 March 2019.  The Board anticipates maintaining the interim dividend at a similar level to that paid in the previous year.  Zytronic remains in a position of having several opportunities with the potential to materially improve future performance.

For further information, please contact:

 

Zytronic plc                                               0191 414 5511

Mark Cambridge, Chief Executive

Claire Smith, Group Finance Director

 

N+1 Singer                                                 020 7496 3000

(Nominated Adviser & Broker)

Aubrey Powell / Alex Bond (Corporate Finance)

Rachel Hayes (Corporate Broking)

 

 

Notes to Editors

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 is embedded in a laminate core which 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™ ("Projected Capacitive Technology") and the second being multi-touch, multi-user mutual-capacitive which Zytronic markets as MPCT™ ("Mutual Projected Capacitive Technology"), in which Zytronic holds eight granted patents.

Operating 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. 

Further information for investors can be found on the Company's corporate website, www.zytronicplc.com, and additional information on the Company's technology and products is available at www.zytronic.co.uk.

Persons responsible for arranging the release of this announcement:

Mark Cambridge, Chief Executive

Claire Smith, Group Finance Director


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 [email protected] or visit www.rns.com.
 
END
 
 
TSTDBGDULSGBGCB

a d v e r t i s e m e n t