REG - CML Microsystems PLC - AGM Statement

CML MicrosystemsAnnouncement

13/08/2024 11:15

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RNS Number : 2770A  CML Microsystems PLC  13 August 2024

13 August 2024

CML Microsystems Plc

("CML", the "Company" or the "Group")

AGM Statement

CML Microsystems Plc, which develops mixed-signal, RF and microwave
semiconductors for global communications markets, will hold its Annual
General Meeting today at 11.00am at which Nigel Clark, Non-Executive Chairman,
will provide the following trading update.

Trading Update

The Group's operating results across the opening four months of the financial
year are slightly ahead of the comparable period and are on track to meet
market expectations for the year as a whole. We continue to expect an
improvement in customer inventory levels to commence during the second half of
the financial year.

The Board is pleased with the underlying progress the business is making and
remains excited by the growth opportunities being addressed.

 

 

 CML Microsystems Plc

  Tel: +44(0)1621 875 500
 Chris Gurry, Group Managing Director

Nigel Clark, Non - Executive Chairman

 Shore Capital                            Tel: +44(0)20 7408 4090

 Toby Gibbs

 James Thomas

 Lucy Bowden

 Fiona Conroy (Corporate Broking)

 Alma Strategic Communications            Tel: +44 (0)20 3405 0212

 Josh Royston

 Andy Bryant

 Robyn Fisher

 Emma Thompson

 

About CML Microsystems Plc

CML develops mixed-signal, RF and microwave semiconductors for global
communications markets. The Group utilises a combination of outsourced
manufacturing and in-house testing with trading operations in the UK, Asia and
USA. CML targets sub-segments within Communication markets with strong growth
profiles and high barriers to entry. It has secured a diverse, blue chip
customer base, including some of the world's leading commercial and industrial
product manufacturers.

Growth in its end markets is being driven by factors such as the appetite for
data to be transmitted faster and more securely, the upgrading of telecoms
infrastructure around the world and the growing prevalence of private
commercial wireless networks for voice and/or data communications linked to
the industrial internet of things (IIoT).

The Group is cash-generative, has no debt and is dividend paying.

 

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