CML Microsystems sees FY pretax profit ahead of market views

Shares in CML Microsystems are up almost 8% after stating it performed well in the second half of the year, with pretax profit for the full year seen above market views.

"Unaudited figures indicate revenue for the full year was above £27.6m, with profit before tax ahead of market expectations at circa £4.2m," the company said.

Cash generation continued to be healthy resulting in a net balance of £12.4m at 31 March.

"New order bookings were firm through the period with a pleasing contribution from the Sicomm business, acquired during the first half of the year," said CML in a statement.

"Planned investments in customer facing personnel and related activities gathered pace towards the end of the year.

"It is pleasing to report that the business has performed well over the second half of the financial year."

At 13:24 BST, shares in CML Microsystems were up 8.62% to 472.5p each.