12th Jun 2018 10:07
LONDON (Alliance News) - Semiconductor maker CML Microsystems PLC boosted its dividend Tuesday after annual profit and revenue rose to "record" levels amid a wider product range as it looks forward to further "steady" progress in the future.
For the financial year ended March, pretax profit expanded 9.5% to GBP4.6 million from GBP4.2 million the year prior. This was after revenue rose 14% to GBP31.7 million from GBP27.7 million the year before.
CML proposed a 5.8 pence per share final dividend. For the full year, the dividend rose 5.4% to 7.8p per share from 7.4p the year before.
"I am pleased to report on another year of continued progress across the group," CML Managing Director Chris Gurry said. "Our revenue and EBITDA performances are at all-time highs, as is the year-end cash position. These results, achieved whilst continuing to invest in the business, are further validation of the continuing success of our strategy."
Earnings before interest, taxes, depreciation and amortisation widened 14% to GBP10.0 million from GBP8.8 million the year before.
"The revenue growth we are seeing today is the result of the continuous research and development investments that we make to deliver the products our customers need," Gurry added. "Group products released three to four years ago are now entering the growth phase amongst the customer base and we envisage a repeat of this cycle with our recently released products and those under development, providing us with a long and sustainable sales opportunity pipeline."
"Whilst we cannot predict any issues that may arise in the wider market," Gurry continued, "the board believes that CML is well positioned to deliver steady, sustained and profitable growth."
Shares in CML were 0.5% lower at 512.50 pence on Tuesday.
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