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Elektron Technology cautious on outlook as turnaround makes progress

Wed, 08th Feb 2017 08:49

(ShareCast News) - AIM-listed Elektron Technology said it would report a fall in revenue for 2016 as it turns around the company by selling low growth and non-core businesses, remaining cautious in the wider outlook.In a year-end trading statement, the technology company said revenue from continuing operations fell slightly to £34.5m and said the caution was due to macroeconomic conditions and continued sales order visibility of only five to seven weeks.In 2017 the company will continue to pursue its rationalisation programme and aims to conclude two more sales to enable it to target a return to growth in sales across each of the remaining businesses.The company maintained that its focus will be on new product development and that it will invest the excess of the cash generated from its operations in 2018 in order to grow and maintain the momentum in the established brands and fledgling growth brands, with products from the Queensgate business due to be launched in late spring.Chief executive John Wilson said the sales had so far enabled the group to return to a net cash position "for the first time in many years" and provided more management time for ongoing areas of the business."Further simplification is planned for the current financial year creating a more focused group with greater growth opportunities. We shall maintain investment in new product development."Although revenues fell, the company said that the underlying trading performance from continuing operations benefitted from the improved mix of sales and further cost savings to offset the impact £1m sales decline, with net cash at the end of January of £1m compared to net debt of £1.6m last year.
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31 Jul 2019 12:03

Elektron Tech To Become Checkit As Sells Bulgin For GBP105 Million

(Alliance News) - Elektron Technology PLC on Wednesday said it has entered into a conditional agreement with a special purpose vehicle wholly-owned by investor Equistone Partners Europe to sell UK

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12 Jun 2019 13:35

Elektron Technology profits leap after 'exceptional' year

(Sharecast News) - Elektron Technology on Wednesday reported a leap in annual profits after a double-digit revenue increase in its unaudited preliminary results following growth at all three of its businesses.

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12 Jun 2019 11:04

Elektron Technology Doubles Profit In "Exceptional" Annual Performance

(Alliance News) - Elektron Technology PLC on Wednesday reported a doubling in annual profit after revenue growth across all three business lines.Elektron, which makes electrical connectors,

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15 May 2019 09:01

Elektron sales growth driven by Bulgin and Checkit subsidiaries

(Sharecast News) - Global technology firm Elektron saw sales move ahead in the first quarter of its trading year, boosted by strong sales growth over at its Checkit and Bulgin units.

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5 Feb 2019 08:15

Elektron trades in line with upgraded market forecasts

(Sharecast News) - Global technology firm Elektron expects to have traded in line with upgraded market forecasts in its recently wrapped up trading year.

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1 Nov 2018 10:35

Elektron Technology Expects Annual Results "Significantly" Ahead

LONDON (Alliance News) - Elektron Technology PLC said Thursday it expects annual results to be "significantly" ahead of expectations after its main unit delivered "record" and

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1 Nov 2018 08:59

Elektron expects annual sales to be 'significantly ahead'

(Sharecast News) - Elektron Technology increased sales 16.5% in the third quarter of the year thanks to an improved showing from its Bulgin branded products following a successful manufacturing scale-up.

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19 Sep 2018 11:45

Elektron Technology Outlook Positive As Interim Profit Increases

LONDON (Alliance News) - Elektron Technology PLC on Wednesday said its profit more than doubled in the first half of its financial year 2019 as revenue grew on higher order intake.The said

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9 Aug 2018 10:07

Elektron Techology set to exceed expectations after double-digit sales growth

(Sharecast News) - Elektron Technology on Thursday reported a 16.9% rise in sales which were "significantly ahead of the prior year" and ahead of market expectations.

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20 Jun 2018 10:17

Elektron Technology Expects Positive Progress From Bulgin Business

LONDON (Alliance News) - Elektron Technology PLC said Wednesday it expects its Bulgin business' interim sales to be ahead of last year, as the division generated a "significantly order of

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31 May 2018 14:41

Chelverton Asset Management Ups Stake In Elektron Technology (ALLISS)

LONDON (Alliance News) - Elektron Technology PLC said on Thursday that Chelverton Asset Management Ltd has increased its stake in the investment company to 5.4% after a transaction on Asset raised

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3 May 2018 12:02

Elektron Swings To Annual Profit, But Cautions On Economic Doubts

LONDON (Alliance News) - Elektron Technology PLC on Thursday said it returned to profitability in its 2018 financial year, helped by "strong" growth in its Bulgin and Checkit connection,

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26 Apr 2018 16:30

UK Earnings, Trading Statements Calendar - Next 7 Days

Friday 27 April Royal Bank of ScotlandQ1 ResultsComputacenterTrading Nash Year Year Year

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6 Mar 2018 10:34

Elektron Technology Rises After Successful Checkit Platform Study

LONDON (Alliance News) - Shares in Elektron Technology PLC were up on Tuesday as the company said the UK Food Standards Agency carried out a successful at

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