LONDON (Alliance News) - Elektron Technology PLC said Thursday that it expects its operating profit for its second half to be ahead of the GBP600,000 it reported in its first half, as it saw revenues slightly ahead of its expectations.
In the year to end-January the company produced revenue of GBP44.5 million, down from GBP46.3 million a year before. GBP22.4 million of this revenue was produced in the second half.
Elektron said it continues to have limited visibility, but its first two months of the current financial year are expected to see good sales levels. It will continue to focus on maximising the performance of its existing portfolio in the short term, whilst simultaneously developing and launching new products to allow for medium and longer term growth.
It is upping its investment in its Chekit monitoring and process management technology, and whilst this will be the primary focus of its investments it noted that this is unlikely to show a positive return for "a number of years."
As a result it will show results from Checkit separately from the rest of its business. In 2015 it expects to launch two products for Checkit, and to up its sales and marketing efforts. It will funnel cash flow from the remainder into Checkit during the current year.
Shares in Elektron are untraded Thursday. It last closed at 5.26 pence.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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