(Alliance News) - CML Microsystems PLC shares surged on Wednesday, as it shared a rosy outlook for its first half and full-year.
The Essex, England-based semiconductor developer said trading was strong in its half-year ended September 30.
It now expects revenue "well ahead" of the previous year on a constant currency basis, noting a boost from favourable exchange rates.
Shares in CML were up 12% to 391.00 pence each in London on Wednesday morning.
In the first half of its financial year 2022, it brought it GBP8.0 million in revenue.
For its year as a whole, it expects both revenue and profit to be ahead of market expectations. This is if the current rate of trading continues, and the exchange rates remain consistent.
It noted its operational investments, research & development, and new products are all progressing well. Its forward order book remains "healthy".
"The board remains confident in the group's strategy and its ability to deliver significant, sustainable growth over the coming years," CML said.
By Elizabeth Winter; elizabethwinter@alliancenews.com
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CML Microcircuits (CML)