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Elektron Technology

  • BY: Andrew Hore |
  • POSTED: 12/02/2018 |

Elektron Technology says that revenues will be 11% higher in the year to January 2018. 

Stronger second half trading for the connections, monitoring and controls business means that full year revenues from continuing operations were £30.5m and most of the growth in revenues was in the second half. This helped margins to improve.

Orders received during the year jumped from £28.1m to £33.1m. There was also a trebling of contracted recurring revenues for the Checkit real-time operations management technology business to more than £750,000 a year. The year-end order book was more than £9m. Disposal proceeds helped to boost net cash to £5.1m.

Elektron Eye Technology has acquired all IP relating its products and the company can start to establish a US distribution network. There was destocking last year but orders have improved this year.

The share price is 23.5p.

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