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Published on: June 27, 2023

Resilient growth

CML has today reported a strong set of FY23 figures, in line with the year-end trading update of 27 March 2023. Revenue of £20.6m was an impressive 22% up on FY22, with profit from operations pre exceptionals at £2.9m, 142% ahead of FY22. We are not adjusting our profit forecasts for FY24, noting that the expected acquisition of Microwave Technology (MwT), once approved, should mean that these estimates will be superseded. The statement reports good progress with new products in terms of both launches and market reactions. With one transaction complete, the property value realisation continues, but the key opportunity remains next-generation wireless, with an anticipated boost from the MwT deal.

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