Trading update

RNS Number : 2486S

Elektron Technology PLC

17 November 2011

 

ELEKTRON TECHNOLOGY PLC

("Elektron" or the "Group")

Trading Update

Elektron Technology plc (AIM: EKT) announces a trading update.

Orders for the Group compared to the prior year have increased by 6% year to date on a like for like basis and by 11% for October month on month. The Group is on track to deliver operating profits before exceptional items for the year to 31 January 2012 at a level similar to last year's performance. This is a reduction in management expectations for the current financial year but matches last year's record profits.

The Directors are pleased by the resilience of the business given the importance of Europe to the Group. Nevertheless the economic problems of the area are inevitably having an effect on sales. We are pleased to report the performances of brands such as Carnation Genisys and Henson remain strong in the UK. The Americas continue to show strong growth as a result of expansion of our distribution network and OEM partnership initiatives.

The Group is putting considerable emphasis on building up its business in the large and growing markets of the Asia Pacific region. It has already opened a new office in Shanghai and is currently searching for an office in New Delhi to accommodate expansion of its existing facility.

Shareholders will know that Elektron has been investing heavily in geographical, functional and new product development resource and, given the opportunities available, the Board intends to continue investing in the long term growth of the Group.

Elektron expects to release its preliminary statement of results for the year to 31 January 2012 on 12 April 2012.

For further information:

Elektron Technology plc	Tel. [phone]
John Wilson - Chief Executive Officer Noah Franklin - Chief Financial Officer
finnCap	Tel. [phone]
Ed Frisby/ Rose Herbert - Corporate Finance
Simon Starr - Corporate Broking
Threadneedle Communications	Tel. [phone]
Josh Royston
Hilary Millar

 

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