By Benjamin Chiou
Date: Tuesday 19 Nov 2024
LONDON (ShareCast) - (Sharecast News) - The market value of CML Microsystems dropped by a tenth on Tuesday after the semiconductors group reported a halving of profits in its first half amid "subdued" market conditions, and said meeting full-year targets might be "challenging".
The company, which makes mixed-signal, RF and microwave semiconductors for global communications markets, said earnings per share were 4.34p in the six months to 30 September, down from 9.44p the year before, with pre-tax profit slumping to £0.8m from £1.9m.
Revenues were 18% higher at £12.5m, helped by a £3.5m maiden contribution from products associated with CML's acquisition of MwT last October.
However, while sales grew strongly in the UK and Americas divisions, up 28% and 137% respectively, revenues in the "Far East" segment of the business - which accounted for 15% of sales last year - dropped by close to 10% due to tough conditions in China.
Looking ahead, the company said that, if the current trading environment persists, "it will become challenging to meet management's full-year expectations for trading profitability [due to] the investment efforts to unlock future financial and operational gains alongside the protracted US building permit process and related costs".
The stock was down 10.11% at a four-year low of 230.12p by 1222 GMT, extending the year-to-date loss to 39%.
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Currency | UK Pounds |
Share Price | 214.00p |
Change Today | 0.000p |
% Change | 0.00 % |
52 Week High | 410.00 |
52 Week Low | 204.00 |
Volume | 14,561 |
Shares Issued | 15.91m |
Market Cap | £34.05m |
Beta | 0.02 |
RiskGrade | 224 |
Value |
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Latest | Previous | |
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Interim | Final | |
Ex-Div | 28-Nov-24 | 01-Aug-24 |
Paid | 13-Dec-24 | 16-Aug-24 |
Amount | 5.00p | 6.00p |
Time | Volume / Share Price |
14:32 | 2,500 @ 216.70p |
11:58 | 1,500 @ 216.70p |
11:39 | 358 @ 217.00p |
10:43 | 112 @ 209.30p |
09:34 | 4,825 @ 204.60p |
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