Elektron Technology plc (AIM: EKT), the global technology group, has published its results for the six months ended 31 July 2018.
Performance
- Group revenue: £15.9m (up 17%) (H1 FY18: £13.6m)
- Bulgin revenues up 14%; Checkit revenues up 146%; EET revenues up 33%
- Operating profit (including Checkit) of £1.4m (H1 FY18: £0.5m), up 180%
- Operating profit from businesses excluding Checkit: £3.6m (up 29%) (H1 FY18: £2.8m)
- Checkit losses lower at £2.2m (H1 FY18: £2.3m)
- EET returned to breakeven
- Sale of Queensgate Nano for initial consideration of £0.8m with up to a further £0.8m deferred consideration based on Queensgate Nano revenue performance of which £0.1m has been received since end of July
- Net cash balances at £6.8m (31 July 2017: £2.1m; 31 January 2018: £5.2m)
- Positive outlook for H2 and beyond
Figures for continuing operations, except where otherwise stated.
John Wilson, Chief Executive Officer of Elektron, said: “Strong double digit sales growth during the first half of the year is representative of the continuing multi-year transformation of our business. The Board retains its positive outlook for the medium to long term prospects of the Group.”
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