Elektron Technology PLC AGM Trading Update (9216R)

TIDMEKT

RNS Number : 9216R

Elektron Technology PLC

20 June 2018

Elektron Technology plc

AGM Trading Update

Ahead of its Annual General Meeting on Wednesday 20 June 2018, Elektron Technology plc (AIM:EKT, "Elektron" or the "Group") , the technology group, provides an update on recent trading.

Bulgin's order book is significantly stronger than a year ago with both the order book and year to date orders at new record levels with sales at the half year expected to be at least GBP1m ahead of last year's GBP12.5m. As a result of continued strong demand and despite order visibility of around 12 weeks, the Board now expects sales for the full year to be ahead of the GBP27.3m achieved last year.

Checkit, the Group's SaaS model business, continues to make strong progress and is in advanced discussions with a number of global businesses with a view to adoption of Checkit's disruptive technology.

Elektron Eye Technology continues to trade in line with expectations.

Elektron expects to provide an update on current year first half sales and cash in early August.

For further enquiries:

 
                                             [phone] 
 Elektron Technology plc                      000 
 www.elektron-technology.com 
 John Wilson (Chief Executive Officer) 
 Andrew Weatherstone (Chief Financial 
  Officer & Company Secretary) 
 
                                             [phone] 
 N+1 Singer (Nominated Adviser & Broker)      3000 
 Shaun Dobson / Jen Boorer (Corporate 
  Finance) 
 
 

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

Notes to Editors

About Elektron Technology:

Elektron conceives designs and markets innovative 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

- Real-time operations management using Internet of Things (IoT) technology: Checkit

- Screening for the effects of ageing on sight: Elektron Eye Technology

Cautionary statement

This financial information has been prepared only for the shareholders of Elektron as a whole and its sole purpose and use is to assist shareholders to exercise their governance rights. Elektron and its Directors and employees are not responsible for any other purpose or use or to any other person in relation to this announcement.

The announcement contains indications of likely future developments and other forward-looking statements that are subject to risk factors associated with, among other things, the economic and business circumstances occurring from time to time in the countries, sectors and business segments in which the Group operates. Key risks and their mitigation have not changed materially in the period from those disclosed on pages 21 to 24 of the annual financial statements for the year ended 31 January 2018.

These and other factors could adversely affect the Group's results, strategy and prospects. Forward-looking statements involve risks, uncertainties and assumptions. They relate to events and/or depend on circumstances in the future which could cause actual results and outcomes to differ materially from those currently anticipated. No obligation is assumed to update any forward-looking statements, whether as a result of new information, future events or otherwise.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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(END) Dow Jones Newswires

June 20, 2018 02:00 ET (06:00 GMT)