Updates

CML Microsystems

July 2018

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Good progress at CML across both of its divisions. Overall revenues were up 14% to £31.7m. Pretax profit was up 9% to £4.6m and eps were up 6% to 24.5p. Net cash lifted by £0.9m to £13.8m or 79p a share.The sales performance for the full year is somewhat muted (H1 sales were up +23% and H2 was +7%) and CML says this is down to shortages in the supply of silicon, impacting the whole industry. Notwithstanding that, CML reiterated that products released three to four years ago are now passing through the qualification phase with customers and it has begun shipping more of them in production quantities. CML also put costs in place ahead of this growth emerging with several appointments early in the year and also a new ERP syst ...

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