Trading update and result of AGM (1903F)
June 12 2012 - 6:55AM
UK Regulatory
TIDMDSN
RNS Number : 1903F
Densitron Technologies PLC
12 June 2012
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 today provides an update on its trading
activities.
Displays Business
During the year to date the Group has continued on its strategy
for organic growth. As we outlined in our 2011 Annual Report our
strategy is to expand geographically and to create more value by
developing our own intellectual property.
In January 2012 we opened an office in India and, although it is
still in its infancy, it is building a significant pipeline of
business which we would expect to start being turned into revenue
towards the end of the year and into 2013.
We are working on a number of projects to create intellectual
property within the group which will enhance our margins and
differentiate Densitron from our competitors across all
subsidiaries. We have created our own range of displays and touch
screens that are branded as Densitron and in addition the Group has
created a suite of software to enable our customers to develop
their own high quality graphics quickly and effectively.
The level of orders booked during the first six months of the
tear will be higher than in 2011 but the level of sales and
consequently gross profit will be behind. However, the pipeline of
new business which is used as a barometer of the potential future
strength of the business remains extremely strong and we expect to
turn this pipeline into revenue during the second half of the year.
Based on the Company's orderbook and pipeline, at this time the
Directors believe the Company will meet market expectations for the
full year.
Land at Blackheath
We are continuing with the strategy outlined in the 2011 Annual
Report for the site at Blackheath. We are exploring the existing
use rights on the site and are working on the reclassification of
the site through the Local Development Framework. We will keep
shareholders informed when there is further information.
Claim against the Company
We outlined in the 2011 Annual Report that the Company had been
served with a writ in respect of unpaid rent relating to a property
occupied by a former group company. We continue to defend the
Company against this claim and will advise shareholders when there
are further developments.
Outlook
The outlook for the business remains very good and the pipeline
of future business suggests that we remain on track with our three
year plan. The development of intellectual property strengthens the
position of the Group with its customers and differentiates it from
its competitors. We consider that there is still significant
potential for organic growth in our existing subsidiaries and the
opportunity that is being developed in India. Additional projects
are being investigated that will strengthen the intellectual
property base of the Group and strengthen the business further into
the future.
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
END
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