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November 22, 1995

WEAKER THAN LAST YEAR, CML IS STILL WAITING FOR ITS PROMISE TO BE FULFILLED

By CBR Staff Writer

The pressure continues to bear down on CML Microsystems Plc and its share price, as the electronic systems supplier posted interim figures below its earlier expectations. Pre-tax profits fell 57% to ú725,000, on turnover down 8% to ú8.8m. The traffic division, Microsense Systems Ltd appears to be on the road back to recovery at last, even if it is just in first gear. Following management restructuring the Field Service part of the Traffic business, it broke even broke even in the second quarter, but posted a loss over the half. The Traffic Equipment supply side found market conditions in the UK very weak, according to chairman George Gurry, even after allowing for the traditionally weaker first half. Semiconductor sales have yet to show the benefit of new products, because some of the potential customers have yet to reach the stage of their operations when they might require the products. The division is still in the process of improving its distribution arrangements for semiconductor products, which will cause short-term problems, but reap long-term benefits, according to Gurry. The RDT wireless equipment business continues to grow, but its contribution is so small it bearly warrants a mention at present. Gurry predicted full-year figures behind those of last year, with only modest improvement in the second half. CML shares slipped eight pence to 121 pence at the news. CML has a policy of waiting until the year-end before deciding on a dividend.

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