Business
Preliminary unaudited results
Preliminary unaudited results.
About this update from Checkit Plc
[{"type":"text","content":"\n Elektron PLC\n25 May 2006\n\n\n\nEmbargoed for release: 7:00 a.m. 25 May 2006\n\n\n\n ELEKTRON PLC\n\n Preliminary unaudited results for the year ended 31st January 2006\n\nElektron PLC ('Elektron'), the AIM quoted Engineered Components company\nannounces its preliminary results for the year ended 31st January 2006.\n\nKey Points:\n\n • Profit before taxation, excluding goodwill and discontinued items UP 14%\n to £1,771,000\n\n • Earnings per share, before goodwill, UP 10% to 1.65p\n\n • Proposed final dividend UP 17% to 0.35p per share\n\n • Current order intake UP 15%\n\n • Share buyback programme commenced with 2.1 million shares purchased to\n date\n\n • A number of growth initiatives in hand including new sales subsidiary in\n China and portfolio of new products\n\nFor further information please contact:\n\nAdrian Girling Roland Cornish\nExecutive Chairman Chairman\nElektron PLC Beaumont Cornish Limited\nTel: 020 8979 3232 Tel: 020 7628 3396\n\n\nChairman's Statement\n\nLast year was hard work, but great fun.\n\nWe are beginning to see the ongoing benefits of our relentless efforts to reduce\ncosts by moving manufacturing offshore, coupled with the enthusiasm of our\nglobal distribution partners as they embrace our determined efforts to re-invent\nthe business by developing innovative products beyond our traditional\nelectromechanical experience.\n\nAt our exhibition stand at Domotechnica in Koeln, the premier European\nExhibition for Home Appliances, we displayed a range of new products, including\nsmart indicators, temperature logging devices, cooker hood controls and timer\nswitches. Most important, our distributors as well as OEM customers old and new\nare starting to recognise Elektron as a forward looking engineering innovator.\n\nTo date we have invested in excess of £100k in developing electronic products.\nWhilst it will be some while before the sales of these higher margin products\nhave a significant impact on the bottom line, we are already seeing the positive\neffects on customer order levels for traditional products, through a\ndistribution chain motivated by the prospect of something new.\n\nWith a strong balance sheet, we are well positioned to cope with the recent\ndramatic increases in material prices, especially metals. Where we already\nmaintain good price levels achievable because of hi...