- Profits miss guidance
- Inventory hangover taking longer to clear
- Acquisition performing ahead of expectations
Maldon-based semiconductor chip designer and manufacturer CML Microsystems (CML:306p) has missed profit guidance for the 2023-24 financial year, prompting an 18 per cent slide in its share price.
The main issue is that some customers and channel partners have been reducing inventory levels, a trend that the directors expect to continue into the second half of 2024.