REG - Elektron Technology - AGM Statement <Origin Href="QuoteRef">EKT.L</Origin>

CheckitAnnouncement

06/07/2017 07:00

RNS Number : 2352K
Elektron Technology PLC
06 July 2017
6 July 2017
Elektron Technology plc
("Elektron" or the "Company")
AGM Trading Update
Ahead of its Annual General Meeting on Thursday 6 July 2017, Elektron Technology plc, the technology group, provides an update on recent trading.
Checkit, the Group's Internet of Things business, has made good progress year to date, working with commercial organisations of all sizes to replace pen and paper with digital, cloud based solutions. Highlights include:
 Trials and evaluations at a number of major organisations operating multiple sites in food service and retail. Contracts have been won in leisure, hospitality and food processing organisations as well as multiple small and medium sized food service businesses at an increasing rate;
 Becoming an approved supplier to Compass, the global market-leading provider of outsourced catering solutions, with Checkit now installed and in use at client sites including major UK supermarkets, blue chip organisations and one of the world's largest, US headquartered, technology companies;
 Creating a partnership with Towergate Insurance to reduce the cost of business insurance to Checkit customers in recognition of the role Checkit plays in reducing risk associated with food safety and compliance.
Bulgin's order book remains ahead of this time a year ago. This business has continued to make strategic progress as outlined in our Annual Report. Results, including the launch of its M-Series connector range have been ahead of expectations in the first half. 
Discussions regarding the sale of Titman continue whilst, as previously reported, the other businesses within the IMC portfolio are being managed with a view to eliminating losses in this segment.
The closure of the Group's Torquay site is close to being completed on time and on cost.
Elektron expects to provide an update on current year first half sales and cash on 10 August 2017.
For further information:
Enquiries:
Elektron Technology plc www.elektron-technology.com
+44 (0)1223 371 000
Andy Weatherstone - Chief Financial Officer & Company Secretary
finnCap 
+44 (0)20 7220 0500
Ed Frisby /Scott Mathieson- Corporate Finance
Abigail Wayne - Corporate Broking
Notes to Editors
Elektron conceives designs and markets innovative engineered products and services for businesses that connect, monitor and control. We have a multi skilled team of engineers, software and product line specialists based in Cambridge focused on the opportunities created by global trends in the following areas: 
- Demand for ubiquitous power and data: Bulgin 
- New waves of "aware" business applications: Checkit 
- The effect of ageing on sight: Elektron Eye Technology 
- Growth in high precision manufacture: Queensgate
- Quality testing and inspection instruments: Sheen

This information is provided by RNS
The company news service from the London Stock Exchange
  END
AGMOKPDKPBKDKOK