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.
© 2017 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Latest edition of AIM Journal, including Brave Bison, NWF and ImmuPharma, available here.
Richland Resources Ltd has announced a maiden independent resource for its exploration interests in Queensland.
Transense Technologies has won a contract to supply iTrack tyre monitoring systems to another BHP mine.