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15 Apr 2009 07:00
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15Β April 2009
Sarantel Group PLC
("Sarantel" or "the Company")
Trading update for the six monthΒ period endedΒ 31 March 2009Β
Sarantel (AIM:Β SLG),Β aΒ manufacturer ofΒ revolutionaryΒ antennas for mobile and wireless devices, announces a trading update for the six monthΒ period endedΒ 31 March 2009.
Revenues for the first half of the 2009 financial year are expected to be approximately Β£1.6 million, an increase of 60Β per centΒ on theΒ comparable period in theΒ 2008Β financialΒ year andΒ almost doubleΒ theΒ revenuesΒ achieved inΒ the second half ofΒ that year.Β Sarantel's cash balance remains healthy at Β£2.2 million (September 2008: Β£3.0 million), with monthly cash outflows in lineΒ with marketΒ expectations.
Although the consumerΒ GPSΒ market remains depressed,Β the Company has been able to maintainΒ the level ofΒ sales in that market as a result of its wide base of customers and design wins over the years.Β More than 100 customers bought Sarantel antennas in theΒ period under review, demonstrating the diversity of the Group's customer base.Β In addition,Β sales of Sarantel'sΒ high-value products have increased substantiallyΒ to contribute slightly more than 50Β per centΒ of revenues, compared with around 16Β per centΒ in the first half ofΒ theΒ 2008Β financial year. High-value products include antennas shipped to Iridium forΒ use inΒ its satellite phones.Β
The Board remainsΒ confident ofΒ Sarantel's prospects in existing and new antenna markets.Β
Sarantel was recently identified by Gartner Group as aΒ "Cool Vendor inΒ MobileΒ and Wireless" for the potential of its technology to open up new markets in location-based services. Β
Sarantel expects to publishΒ itsΒ results for the six monthΒ period endedΒ 31 March 2009 inΒ late May to early June.
About Sarantel
Sarantel is a leader in the design of high-performance miniature antennas for portable wireless applications.Β 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 theΒ GPS, WiMax, Satellite Radio and Satellite phone markets.Β
www.sarantel.com
Enquiries:
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Sarantel GroupΒ PLC |
01933 670 560 |
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David Wither, Chief Executive OfficerΒ |
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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 HillΒ |
Β 020 7457 2020 |
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Carl Franklin/Adrian DuffieldΒ |
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