News blog
Elektron Technology
- BY: Andrew Hore |
- POSTED: 04/11/2013 |
Elektron Technology has sold its Chinese manufacturing operations along with the Sifam meters and control knobs products.
Elektron received £300,000 for the disposal, which is a small discount to NAV. The products generated revenues of £2m but made little profit. This is part of the continued rationalisation of the product portfolio. The investment focus will be on connectivity and instrumentation, monitoring and control products.
In the six months to July 2013, Elektron’s revenues fell from £25.7m to £23.7m and the business fell into loss. There were cost overruns on two factory moves.
At 9.88p a share, Elektron is valued at £11.8m.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFOctober2013_49.pdf
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