PUR.L Regulatory News (PUR)

8 Nov 2007 07:01

Pure Wafer PLC08 November 2007 8 November 2007 Pure Wafer plc ("Pure Wafer" or the "Group") Trading Update Swansea based Pure Wafer plc, the provider of high quality silicon wafer reclaimservices for many of the world's leading semiconductor manufacturers, would liketo update the market on its trading expectation for the financial year to 30June 2008. The Board expects that shipments of the new product line will not commence againuntil the second half of this financial year, and it is unlikely that they willcontribute significantly to the 2008 results. Given the current uncertaintysurrounding the new product, we are unable to predict the likely revenue streamsthat it will generate during 2009. In addition the business is impacted by the strengthening of Sterling againstthe US Dollar and increased competition in the market place. As a result theBoard expects turnover and PBT for the full year 2008 to be significantly lowerthan market expectations. The Group continues to perform well against a number of key metrics: the Boardexpects net cash inflows from operating activities to increase significantlythis year from those recorded in the year to 30 June 2007 as well as healthyEBITDA margins of c25 per cent. The Group's recently acquired North Americanfacility has now shipped its first 300mm wafers and Pure Wafer remains in a goodposition to take advantage of the considerable opportunities presented by its USbusiness. Ends For further information, call: Keith Baker/James Dearing, Pure Wafer plc, 01792 311 200Billy Clegg/Edward Westropp, Financial Dynamics, 020 7831 3113James Black/Stuart Skinner, Numis Securities, 020 7260 1000 This information is provided by RNS The company news service from the London Stock Exchange