Zytronic Regulatory News (ZYT)

7 Aug 2007 07:01

Zytronic PLC07 August 2007 For Immediate Release 7 August 2007 ZYTRONIC PLC ("the Company") Trading Update In its last interim statement released on 15 May 2007, the Company reported thatone of its larger customers in the ATM sector was introducing a centralisedstocking system, enabling a reduction in its inventory. Since that date, Julysales to the ATM sector (predominantly from two of the Company's largestcustomers in the United States) have been disappointing. The Directors have noevidence yet of any upturn in the ATM business during the Company's peak tradingmonths, traditionally from July to October, despite indications to the contraryfrom its customers. As a result, the Directors believe that, for the foreseeablefuture, sales to the ATM sector are unlikely to reach the levels achieved duringthe course of 2006. The Directors are pleased to report, however, that sales of touch screens,outside the ATM sector, remain strong. By the end of the Company's nextfinancial year to September 2008, the Directors expect to see substantial growthin Zypos, with annualised sales exceeding those sales to the ATM sector as awhole, therefore reducing the Company's dependency on the ATM marketplace. Workon the new production facility, to generate significant additional Zyposcapacity, remains on track to come on stream, as planned, at the beginning ofOctober this year. Enquiries: Zytronic Plc 0191 414 5511John Kennair, Chief Executive Brewin Dolphin Securities 0845 213 1120Alan Stewart, Corporate FinanceJamie Cumming, Corporate Broking Buchanan Communications 020 7466 5000Richard DarbyIsabel Podda This information is provided by RNS The company news service from the London Stock Exchange