Last checked at 28 Feb 2013 07:00
For Immediate Release 28 February 2013
ZYTRONIC PLC
("Zytronic")
AGM Trading Update
Ahead of the AGM being held at 2.00 p.m. today, Zytronic provides the following trading update.
As previously announced in December 2012, with the release of our preliminary results to 30 September 2012, trading for the first half of this financial year is, as expected, slower than the corresponding period last year. This is principally due to the absence this year of one-off electronic display orders from ATM manufacturers, the discontinuation of some legacy product lines, and the delayed roll-out of the Coca Cola project, which in aggregate accounted for approximately £2 million of revenue in the comparable prior period.
The strategy to diversify away from the traditional display products and concentrate on the growing market for PCT™ touch products is continuing to show progress, with benefit in terms of revenue and profitability expected later in the year.
There are a number of encouraging and positive signs of improvement for the future: the current order intake for Zytronic's innovative touch products is ahead of the corresponding period last year; orders for the delayed roll-out of the Coca Cola product are now beginning to flow through again; and our successful touch products are producing some interesting projects in food and drink vending. In addition, the new multi-touch MPCT™ products continue to be well received and are resulting in initial orders.
PCT™ Projected Capacitive Technology
MPCT™ Mutual Projected Capacitive Technology
Enquiries:
Zytronic plc | 0191 414 5511 |
Mark Cambridge, Chief Executive | |
Denis Mullan, Group Finance Director | |
Buchanan | 020 7466 5000 |
Richard Darby, Gabriella Clinkard | |
N+1 Singer | |
Aubrey Powell | 020 7496 3155 |
Will Goode
Notes to Editors
Zytronic is the developer and manufacturer of a unique range of internationally award-winning touch sensor products. These products employ an embedded sensing element and are based around projected capacitive technology ("PCT™") sensing. PCT offers significant durability, environmental stability and optical enhancement benefits to system designers of touch interactive, industrial, self-service and public access equipment. During 2012, Zytronic developed new know-how to create mutual projected capacitive technology ("MPCT™") which enables multi-user and multi-touch touch sensing in ultra large form factor sizes up to 84".
Operating from three modern factories near Newcastle-upon-Tyne in the United Kingdom, Zytronic assembles touch sensors using special glass and plastic materials, in environmentally controlled clean rooms.