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

Thu, 09th Aug 2018 10:07

(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.In a trading update for the six months ended 31 July, the Swedish musical instrument developer said top-line growth was driven by 14.4% growth in sales from Bulgin, the firm's largest brand, which saw its sales reach £14.3m.Smaller brands Checkit and Elektron Eye Technology also saw growth, with respective increases of 144% to £0.4m and 33.3% to £1.2mJohn Wilson, chief executive of Elektron, said: "Strong double-digit sales growth during the first half of the year is representative of the multi-year transformation of our business. As a result of strong trading in the first half, and current visibility, we now expect our performance for the full year to be ahead of market expectations."The AIM traded firm's net cash as at 31 July was £6.8m, up from £2.0m at the same point last year.Elektron Technology's shares were up 6.99% at 44.40p at 1557 BST.
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2 Dec 2016 08:05

Elektron Technology sells rubber manufacturing business for £300,000

(ShareCast News) - AIM-listed Elektron Technology has sold its rubber instrument manufacturing business to C&M Project for £300,000. The company sold Wallace, a manufacturer of rubber testing instruments, as part of its strategy of a "rationalisation of its portfolio" as it focuses its Connectivity,

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2 Dec 2016 07:49

Elektron Technology Sells Wallace Instruments Arm For GBP300,000

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30 Sep 2016 15:02

Elektron completes disposal of Carnation Designs

(ShareCast News) - Global technology group Elektron Technology announced on Friday that it has completed the sale of the business and assets - excluding trade debtors - of Carnation Designs, to Ring Automotive for a total gross consideration of £0.23m cash. The AIM-traded firm said it has retained C

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22 Sep 2016 10:19

Elektron Technology Highlights Reversal After Brexit Hit To First Half

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28 Jul 2016 13:32

Elektron cautions on declines for legacy products

(ShareCast News) - Technology group Elektron Technology has cautioned that it continued to experience declines in markets for some of its legacy products, having previously warned on its first-half results. It reiterated that current year investment in new product development as well as scale-up cos

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21 Jul 2016 15:04

UK Shareholder Meetings Calendar - Next 7 Days

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9 Jun 2016 10:03

Elektron Technology Annual Profit Up But Warns On Sales In New Year

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23 May 2016 06:57

Elektron Technology Offloads Agar Scientific Unit For GBP2.3 Million

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20 Apr 2016 14:27

Elektron Technology: Court Refuses Bridge's Application For Appeal

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22 Feb 2016 09:29

Elektron Technology revenue down amid cloudy trading

(ShareCast News) - Elektron Technology updated the market on its financial year to 31 January on Monday, ahead of its full results, and saw muted revenue across its divisions amid a cloudy trading environment. The AIM-traded global technology group said group revenue from continuing operations amoun

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22 Feb 2016 08:45

Elektron Technology Says Higher-Margin Sales Propping Up Revenue

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26 Jan 2016 09:45

Elektron Technology Chief Financial Officer To Stay At Company

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25 Nov 2015 10:13

Elektron Technology Gets Patent, Launches New Bulgin Buccaneer Range

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10 Nov 2015 10:57

Elektron Technology To Intensify Cost-Savings Measures

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19 Oct 2015 14:53

Elektron Technology Says Shareholder Appeal Application Refused

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