News blog

Elektron

  • BY: Andrew Hore |
  • POSTED: 11/02/2014 |

Electronics and instrumentation supplier Elektron says that it will be reviewing the carrying value of assets following its disappointing financial performance.

This is likely to lead to write-downs but they will not affect the cash position.

Second half revenues from continuing operations improved from £23m to £24m but that still means that full year revenues will fall from £49m to £46m. Some price increases have been pushed through.

Elektron has raised more than £2m from the sales of Total Carbide, Tinsley Traditional and SIFAM. Even so, net debt has risen from £5m to £8.2m at the end of January 2014 due to restructuring costs. The revolving credit facility is due for renewal in April 2016 but Elektron is in discussions with its lender because of recent trading. 

New products should provide a boost this year. Checkit, a smart, wireless food safety monitoring system, has just been launched and there will be further products added to the range. New opthalmic instruments will be launched next month. Other new products only contributed for a few months last year.

At 6.13p a share, , down 0.63p, Elektron is valued at £6.47m.

Download the latest AIM Journal from http://wwww.hubinvest.com/AIMPDFJanuary2014_52.pdf

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