Trading update and result of AGM (2570J)
June 28 2011 - 6:28AM
UK Regulatory
TIDMDSN
RNS Number : 2570J
Densitron Technologies PLC
28 June 2011
Densitron Technologies plc
Trading update and result of AGM
Densitron Technologies plc ("Densitron" or the "Company" or the
"Group") announces that, at the Company's annual general meeting
held earlier today, all of the resolutions proposed to shareholders
were duly passed and the Company provided an update on its trading
activities.
Displays Business
We are delighted to be able to announce that the Company has
built on the substantial growth achieved during 2010 as the growth
in the displays business has continued in the first half of
2011.
Order intake for the first six months will be in the region of
GBP11.6m compared with GBP10.6m booked in the same period in 2010.
Sales and gross profit have increased substantially and we expect
to finish the first half with sales of approximately GBP11.0m and
gross profit of GBP3.2m compared with GBP8.6m and GBP2.6m
respectively achieved in the first half of 2010. We expect to
achieve net profits for the first six months along similar lines to
those achieved for the full year in 2010.
Demand for our products remains strong and a number of projects
have either been completed in the first half of the year or will be
concluded early in the second half. This gives us sufficient
visibility to be confident that we should be able to satisfy market
expectations as to full year performance.
Land at Blackheath
We have previously reported that our application for development
of the land at Blackheath was, as expected, rejected by the local
Council. That decision has now been appealed and we are currently
in discussion with the Planning Inspectorate as to what form that
appeal should take. We are also pursuing other avenues to further
the cause for development but believe that any resolution in this
matter will be in the medium term.
Outlook
The outlook for the displays business is very good and we remain
on track with our three year plan. While the existing business
continues to grow we consider there are also opportunities to
expand our global capabilities further. We opened an office in
Italy during 2010 which is already delivering significant
opportunities and we have plans to replicate this model in India
later in the year and, possibly, China during 2012.
Enquiries:
Densitron Westhouse Securities
Grahame Falconer / Tim Pearson Tom Price / Martin Davison
Tel: 0207 648 4200 Tel: 020 7601 6100
This information is provided by RNS
The company news service from the London Stock Exchange
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