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Interim Management Statement

17th Feb 2012 07:00

RNS Number : 5942X
Sepura PLC
17 February 2012
 



Sepura PLC

Interim Management Statement

Sepura PLC

17 February 2012

 

SEPURA PLC

INTERIM MANAGEMENT STATEMENT

 

Sepura plc ("the Company"), a leading global provider of TETRA digital radios, today issues the following Interim Management Statement. This statement, required by the UK Listing Authority's Disclosure and Transparency Rules, refers to the Company's trading results for the period from 1 October 2011 to 17 February 2012.

 

Trading update

 

The trends reported in the Interim Results for the period ended 30 September 2011 have continued into the second half of the current year. Demand for the Company's products remains resilient and the Company has delivered major projects across a range of market sectors in both core and emerging markets. As a result, cumulative revenues for the first nine months of the financial year were broadly in line with those of the same period last year.

 

ATEX certification

 

The scheduled approvals process for the Company's ATEX product range is nearing completion and the Company continues to target volume production commencing later this quarter. Pre-production units have been undergoing field trials with end-users from a range of geographies and market sectors, resulting in initial orders from several key partners that will be fulfilled as soon as certified production units are available.

 

New credit facility

 

During the period under review the Company refinanced its existing line of credit on attractive terms a year ahead of maturity. The Company ended the quarter in a positive net cash position.

 

Outlook

 

The Company's business remains seasonally weighted to the second half of the year. In line with this, the company is seeing continued strong product demand in the current quarter and is progressing on track to achieve ATEX Certification. This, together with the strengthened gross margin profile and operational efficiencies derived from the restructuring program earlier this year, gives the Company a solid platform from which to achieve its full year targets.

 

The Company's Preliminary Results Announcement for the period ended 30 March 2012, will be issued during the second week of June. The Company's Annual Report & Accounts will be posted to shareholders in late June and the AGM will take place in July. A confirmatory announcement of the final dates for each of these will be made in due course.

 

 

 

 

For further information please contact:

 

Sepura plc

Gordon Watling, CEO Tel: 01223 876000

Peter Connor, Investor Relations

 

 

Powerscourt (Media Enquiries) Tel: 020 7250 1446

Paul Durman

Victoria Ward

 

 

 

 

Cautionary Statement:

This Interim Management Statement contains certain forward-looking statements with respect to the operations, performance and financial condition of Sepura. By their nature, future events and circumstances can cause results and developments to differ from those anticipated. Nothing in this Interim Management Statement should be construed as a profit forecast. No undertaking is given to update the forward-looking statements whether as a result of new information, future events or otherwise.

 

 

Notes to Editors:

About Sepura

Sepura is a global leader in the design, manufacture and supply of TETRA (TErrestrial Trunked RAdio) digital radios, which are used predominantly by the emergency services around the world and in the transport, utilities and commercial sectors. Our products deliver mission critical communications.

Sepura offers one of the broadest ranges of TETRA products available, is often first to market with innovative products and features, and is a market leader in the supply of surveillance and other specialist TETRA radios and accessories. Founded in the UK in 2002, Sepura has expanded rapidly across the world with a network of regional partners that sell and provide local support for our market-leading products and we are the market leader in over 30 countries.

Based in Cambridge, England and employing some 275 employees, Sepura was admitted to the Official List of the London Stock Exchange on 3 August 2007. For further information please visit www.sepura.com.

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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