Toumaz Limited Half-Year Trading Update

Toumaz Limited has published a trading update for the half year ended 30 June 2013. The Group has traded in line with the Board’s expectations with revenues at £8.2m and an EBITDA loss of £6.2m. As at June 30, 2013, the cash balance was £8.0m.

Progress on the Group’s three major chip developments, in digital radio, connected audio and wireless healthcare, has been good. In each of the Group’s core markets, there have been several encouraging indicators in market developments.

Market conditions for digital radio and connected audio are stable despite a decline in overall consumer electronics sales across Europe. In wireless healthcare, the results of the SensiumVitals pilot in St John’s Health Center, Santa Monica were published in April. These results give a clear validation of both the clinical and economic benefits of the Group’s vital signs monitoring system.

“Sales of our digital audio chips remain firm, as anticipated, despite the difficult consumer electronic markets in Europe,” said Anthony Sethill, CEO of Toumaz. “Our order book for the next few months reflects the seasonal uplift. Progress in wireless healthcare is promising. We have had numerous enquiries from hospitals in the US and Europe who are looking to pilot our SensiumVitals system. Overall our plans to commercialize our wireless technologies remain on track.”