Business
Trading Statement
Trading Statement.
About this update from Uk Oil & Gas Plc
[{"type":"text","content":"\n Sarantel Group PLC\n12 November 2007\n\n\n12 November 2007\n\n\nSARANTEL GROUP PLC\n\n\nYear end trading update\n\n\nSarantel Group PLC (AIM: SLG), the leading manufacturer of revolutionary\nfiltering antennas for mobile and wireless devices, is publishing a year end\ntrading update for the 12 months to 30 September 2007.\n\nSales for the year remained depressed as highlighted in the Group's interim\nresults and are expected to be in the order of £2m for the year. This is\nprincipally due to the slower than expected development in the handheld GPS\nmarket affecting take up of the Group's 2nd generation GPS antenna and lower\nthan expected volumes of portable satellite radio units sold. However, the\nGroup has continued to reduce its cost base and has cut its cash outflow by 19%\nin the second half compared to the first half of the financial year. At 30\nSeptember 2007, the Group had cash balances of £2.4m, of which £0.7m is held to\nsecure leasing liabilities.\n\nThe Board remains confident about the Group's medium term prospects particularly\nas it believes that the mass market adoption of hand portable GPS navigation\ndevices is now beginning to develop.\n\nSpecifically in its core GPS navigation business Sarantel has made good progress\nincluding:\n\n\nHand Portable GPS\n\n• Sarantel has received break-through production orders for a hand portable \n outdoor GPS navigation device, to be launched in early 2008, from a top\n tier GPS device supplier. This design win is significant as it is a \n break-in to a highly reputable mainstream GPS supplier and confirms that \n Sarantel's technology plays a key role in GPS devices operating in \n demanding electronic environments.\n\n• Sarantel has recently received production orders for a new generation of \n Golf range finder products from SKYGOLF.\n\n• Sarantel's new generation GPS P3 antenna, a small antenna measuring\n 7.5 x 12mm, has been selected as an optional GPS antenna in a UMPC \n reference design by Intel.\n\n\nAutomotive GPS\n\n• Sarantel has received production orders from a Fiat supplier for an\n innovative personal navigation device for the newly launched Fiat 500.\n\nAt the Interim results, the Board stated that it planned to diversify the\nGroup's product portfolio to ensure Sarantel generated short-term revenues\nwhilst the high-volume hand portable GPS...