Business
Trading Statement
Trading Statement.
About this update from Checkit Plc
[{"type":"text","content":"\n \nRNS Number : 9494F Elektron Technology PLC 01 November 2018 \n\nElektron Technology plc\n(\"Elektron\", the \"Group\" or the \"Company\")\n \nTrading Update\n \nElektron Technology plc (AIM: EKT), the global technology group, is pleased to provide an update on trading for the third quarter ended 31 October 2018.\nGroup trading was strong in Q3 with sales increasing 16.5% compared to the same period last year to £9.9m (2018: £8.5m). Year to date sales have increased by 17% to £25.8m (2017: £22.1m).\n\n\n\nSales £m\n\n\nUnaudited\n\n\nUnaudited\n\n\n\n\nQ3 2019\n\n\nQ3 2018\n\n\nYTD 2019\n\n\nYTD 2018\n\n\n\n\nBulgin\n\n\n8.8\n\n\n7.8\n\n\n23.0\n\n\n20.3\n\n\n\n\nCheckit\n\n\n0.3\n\n\n0.1\n\n\n0.8\n\n\n0.3\n\n\n\n\nElektron Eye Technology\n\n\n0.8\n\n\n0.6\n\n\n2.0\n\n\n1.5\n\n\n\n\n \nTotal\n\n\n \n9.9\n\n\n \n8.5\n\n\n \n25.8\n\n\n \n22.1\n\n\n\n \nBulgin achieved record quarterly sales of £8.8m in Q3, 13% higher than the same period last year (2017: £7.8m) following successful manufacturing scale-up to convert the continued, unprecedented order demand seen in the first half into sales. Bulgin sales for the full year are now expected to be significantly ahead of management's previously upgraded expectations. Further, given the continued successful implementation of Bulgin's high margin product growth strategy, aided by operational gearing and in-house capacity improvements, the Board anticipates that Bulgin's net margin will be in the region of 30% for the full year; substantially ahead of both previous expectations and last year (26.4% net margin).\nCheckit's sales grew strongly in the period, 200% higher than prior year. In addition, Checkit has now completed the development of its next generation Work Management capability and is commencing roll out to customers. This release can be deployed on any Android device (phone, tablet etc.) and adds location based work management which has significant benefits to customers and extends the target market outside of the food industry. This opportunity in other sectors is evidenced by the recent adoption of Checkit by the Blood Sciences Department of Leeds Teaching Hospitals NHS Trust. One of the largest in the UK, they now rely on Checkit to ensure that samples, reagents and equipment are kept under ...