14th Jun 2016 09:41
LONDON (Alliance News) - CML Microsystems PLC Tuesday reported a rise in pretax profit for its most recently ended financial year, helped by investments it made into its business, and expects further profit and revenue growth in the year ahead.
The company, which makes semiconductors for the global communication and solid stage storage markets, reported a pretax profit of GBP2.9 million for the year to end-March, up from GBP2.7 million the year before.
Revenue rose to GBP22.8 million from GBP21.8 million, helped by growth in its Storage and Wireline Telecom segments, and geographically in the Far East, the Americas and Europe.
CML Microsystems said it had been a "record" year for research and development investment, with around 27% of its revenue invested into new products which it believes will position it to increase its market share.
It proposed a final dividend of 7.0 pence, up from 6.9 pence the year before.
"Over the current year, the board expects a further advance in revenues and profitability and a continuing pipeline of new semiconductor solutions that address a wider range of end-customer requirements and additional market areas. Our goal is to be the first choice key component supplier within our chosen end-markets," said Managing Director Chris Gurry in a statement.
Shares in CML Microsystems were up 1.9% at 369.50 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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