Source - SMW
Elektron Technology swung to a profit in the year to end of December as operating profit at its Bulgin division more than doubled amid 'record demand'.

Operating profit at Bulgin grew to £7.2m in 2017 from £3.3m the previous year, supported by an ongoing focus to grow sales whilst maintaining margins, the firm said.

'Bulgin experienced record demand in the year, more than doubling its operating profit,' the firm said. 

The firm's two other divisions, Checkit and EET, delivered mixed performance as the latter's operating losses narrowed, while the former's operating losses widened.

'Checkit is building momentum with annualised recurring revenue recently exceeding £1m and EET has been restructured with a distribution led focus and early signs are encouraging,' the firm said. 

The firm offloaded three of its businesses as part of its five-year streamlining programme. The three disposals completed in the year generated £1.9m in cash, the firm said.



At 10:02am: (LON:EKT) Elektron PLC share price was 0p at 28p

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