REG - Elektron Technology - Trading Update and Notification of Interim Results <Origin Href="QuoteRef">EKT.L</Origin>

CheckitAnnouncement

10/08/2017 07:06

RNS Number : 5846N
Elektron Technology PLC
10 August 2017
Elektron Technology plc
("Elektron" or the "Company")
Trading Update
Elektron Technology Plc, the global technology group, is pleased to provide an update on trading for the six months ended 31 July 2017.
During the period sales from continuing operations were as follows:
6 months to 31 July (unaudited)
2017
2016

% Change

m
m

Bulgin
12.5
11.7

7.0%
IMC portfolio*
2.6
3.2
-18.3%
Checkit
0.2
0.1

49.1%
Half year outcome
15.3
15.0

1.9%
*Instrumentation, Monitoring and Control portfolio: Elektron Eye Technology ("EET"), Queensgate, Sheen and run off business
Bulgin organic order growth continued in Q2 with orders now substantially ahead of the prior year which will be reflected in H2 sales. IMC sales were reduced as a result of distributor destocking at EET as well as planned reductions in run off business.
Checkit continued to show early promise as described in the AGM statement dated 6 July 2017.
The Group continued to be cash generative and in addition during the period 0.8 million was received in respect of the disposals of the Digitron and Titman Tip Tool businesses. Net cash as at 31 July 2017 was 2.0 million (31 July 2016: 0.5 million; 31 January 2017: 1.0 million).
Elektron expects to publish its Interim Report on 21 September 2017.
Enquiries:
Elektron Technology plc
www.elektron-technology.com
+44 (0)1223 371 000
John Wilson - Chief Executive Officer
Andy Weatherstone - Chief Financial Officer & Company Secretary
finnCap (Nominated Adviser & Broker)
+44 (0)20 7220 0500
Ed Frisby /Scott Mathieson- Corporate Finance
Abigail Wayne - Corporate Broking
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
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
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