Zytronic PLC Trading Update (3932W)
18 Agosto 2022 - 1:00AM
UK Regulatory
TIDMZYT
RNS Number : 3932W
Zytronic PLC
18 August 2022
18 August 2022
Zytronic plc
("Zytronic" or the "Company")
Trading Update
Zytronic, a leading specialist manufacturer of touch sensors,
provides the following trading update ahead of its 2022 fiscal year
end on 30 September 2022 ("FY22").
As anticipated in the interim results statement issued on 17 May
2022, due to continued global economic disruptions, the
availability and cost of both raw materials and electronic
components have proven to be persistent challenges as the second
half of FY22 has progressed. This has had a knock-on effect on the
Group's customers and has resulted in a lower than anticipated
level of order intake being observed over the second half to
date.
As a result of the above and with clearer visibility at this
time on revenue generation for the remainder of the fiscal year,
management currently considers that reported revenues for FY22 are
likely to be in the region of 5% higher than the GBP11.7m reported
for 2021.
Although still a fluid consideration, profitability for the year
is currently expected to be ahead of that reported at the pre-tax
level for the year to 30 September 2021.
Whilst global and national economic uncertainties appear likely
to continue beyond the year end, sales and marketing activities are
resuming after a near two-year hiatus. Working capital expansion is
expected to continue in parallel with this resumption of activity
and in response to the current operating environment. The Group
anticipates maintaining a healthy cash balance at the year-end of
approximately GBP6.0m.
With an improving log of opportunities and the ability to commit
further resources to business development and project progression
activities, management remains confident in the positioning,
ongoing recovery, and longer-term growth prospects for the
Group.
This announcement contains inside information and is disclosed
in accordance with Article 7 of the UK Market Abuse Regulation.
Enquiries:
Zytronic plc
Mark Cambridge, Chief Executive
Claire Smith, Group Finance Director 0191 414 5511
Singer Capital Markets
(Nominated Adviser and Broker)
Aubrey Powell, Rachel Hayes, Amanda Gray 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.
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END
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