CML Microsystems confident of reversing slide
Essex semiconductor business CML Microsystems Plc has seen a downturn in revenue and profits in the six months to the end of September.
The company designs, manufactures and markets semiconductors, primarily for global communication and solid state storage markets, and is predicting a bounceback in fortunes in the New Year.
Group revenues fell to £13.06 million from £15.05m year-on-year while profit before tax was substantially lower – £907k compared to £2.36m. The interim dividend was held at 2p per share.
Management expectations are for a sequential improvement in sales revenue for the second half in conjunction with a favourable product mix and tight cost control, according to group managing director Chris Gurry.
Hew said: “The extended difficult trading environment remains a frustration although the business continues to execute operationally with a keen focus on converting the growing pipeline of opportunities into sustainable revenue growth.
“Indications from our end markets continue to suggest that we will flourish as conditions normalise and customers go to market with products based upon our expanded portfolio of semiconductor solutions.
“Whilst the timing of that is difficult to predict, for our customers as much as it is for ourselves, we do anticipate a clearer picture to emerge early in the new calendar year.”