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Elektron Technology

  • BY: Andrew Hore |
  • POSTED: 07/08/2017 |

Elektron Technology has sold Titman Tip Tools to a management team for £500,000. 

The router cutters manufacturer generated revenues of £2m last year and made a contribution before central costs of £176,000. After allocation of overheads the operating profit was around £100,000.

Elektron as a whole made a loss in the year to January 2017 due to the start-up loss of Checkit. This is a business that plans to improve the operational efficiency of companies by moving them from paper to the cloud. The initial focus is food, healthcare and facilities management businesses.

At 13.25p a share, the Elektron share price is trading just below its 12 month high. 

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