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ZYTRONIC: Excellent results with exports surging
Posted 09/12/09
The specialist manufacturer of touch sensors and optical filters for electronic displays, announced excellent results for the year ending 30th September 2009.
Revenue of £15.9m increased by 8.2% with growth of 18.2% in touch sensor sales. Profit before tax increased by 32.2% to £2.3m and eps increased by 58.9% to 11.6p, just ahead of consensus estimates of 11.1p.
The final dividend of 3.8p results in a total for the year of 5.0p and an increase of 25.0%. Consensus estimates were for 4.50p.
The key highlights included an increase in Zypos® touch sensor sales of 54.9%. Export sales now representing 85.9% of Group sales, up from 79.4% previously.
Operating profit of £2.394m resulted in positive net cashflow from operating activities £2.482m
Gearing used to be only modest, however, during the course of the year, they took advantage of the disruption in the commercial property market and low interest rates to purchase, for the sum of £3.5m, the freehold and long leasehold of its two leased properties. The purchases were part financed by a term loan of £2.25m repayable over ten years leading to an increase in the gearing ratio to 31% (2008: 11%).
A cracking little business!
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