15th Apr 2009 07:00
15 April 2009
Sarantel Group PLC
("Sarantel" or "the Company")
Trading update for the six month period ended 31 March 2009
Sarantel (AIM: SLG), a manufacturer of revolutionary antennas for mobile and wireless devices, announces a trading update for the six month period ended 31 March 2009.
Revenues for the first half of the 2009 financial year are expected to be approximately £1.6 million, an increase of 60 per cent on the comparable period in the 2008 financial year and almost double the revenues achieved in the second half of that year. Sarantel's cash balance remains healthy at £2.2 million (September 2008: £3.0 million), with monthly cash outflows in line with market expectations.
Although the consumer GPS market remains depressed, the Company has been able to maintain the level of sales in that market as a result of its wide base of customers and design wins over the years. More than 100 customers bought Sarantel antennas in the period under review, demonstrating the diversity of the Group's customer base. In addition, sales of Sarantel's high-value products have increased substantially to contribute slightly more than 50 per cent of revenues, compared with around 16 per cent in the first half of the 2008 financial year. High-value products include antennas shipped to Iridium for use in its satellite phones.
The Board remains confident of Sarantel's prospects in existing and new antenna markets.
Sarantel was recently identified by Gartner Group as a "Cool Vendor in Mobile and Wireless" for the potential of its technology to open up new markets in location-based services.
Sarantel expects to publish its results for the six month period ended 31 March 2009 in late May to early June.
About Sarantel
Sarantel is a leader in the design of high-performance miniature antennas for portable wireless applications. Sarantel's revolutionary ceramic filtering antennas offer dramatically improved performance over existing antenna designs, resulting in a clearer signal, better range and a 90 per cent reduction in the amount of signal radiation absorbed by the body. Because of their smaller size and higher capabilities, Sarantel's antennas enable manufacturers to create innovative wireless products for the GPS, WiMax, Satellite Radio and Satellite phone markets.
www.sarantel.com
Enquiries:
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Sarantel Group PLC |
01933 670 560 |
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David Wither, Chief Executive Officer |
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Sitkow Yeung, Finance Director |
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John East & Partners Limited |
020 7628 2200 |
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John East/Simon Clements |
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College Hill |
020 7457 2020 |
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Carl Franklin/Adrian Duffield |
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