Elektron Technology PLC AGM Statement (2352K)
July 06 2017 - 2:00AM
UK Regulatory
TIDMEKT
RNS Number : 2352K
Elektron Technology PLC
06 July 2017
6 July 2017
Elektron Technology plc
("Elektron" or the "Company")
AGM Trading Update
Ahead of its Annual General Meeting on Thursday 6 July 2017,
Elektron Technology plc, the technology group, provides an update
on recent trading.
Checkit, the Group's Internet of Things business, has made good
progress year to date, working with commercial organisations of all
sizes to replace pen and paper with digital, cloud based solutions.
Highlights include:
Ø Trials and evaluations at a number of major organisations
operating multiple sites in food service and retail. Contracts have
been won in leisure, hospitality and food processing organisations
as well as multiple small and medium sized food service businesses
at an increasing rate;
Ø Becoming an approved supplier to Compass, the global
market-leading provider of outsourced catering solutions, with
Checkit now installed and in use at client sites including major UK
supermarkets, blue chip organisations and one of the world's
largest, US headquartered, technology companies;
Ø Creating a partnership with Towergate Insurance to reduce the
cost of business insurance to Checkit customers in recognition of
the role Checkit plays in reducing risk associated with food safety
and compliance.
Bulgin's order book remains ahead of this time a year ago. This
business has continued to make strategic progress as outlined in
our Annual Report. Results, including the launch of its M-Series
connector range have been ahead of expectations in the first
half.
Discussions regarding the sale of Titman continue whilst, as
previously reported, the other businesses within the IMC portfolio
are being managed with a view to eliminating losses in this
segment.
The closure of the Group's Torquay site is close to being
completed on time and on cost.
Elektron expects to provide an update on current year first half
sales and cash on 10 August 2017.
For further information:
Enquiries:
+44 (0) 1223
Elektron Technology plc www.elektron-technology.com 371 000
Andy Weatherstone - Chief Financial
Officer & Company Secretary
+44 (0)20 7220
finnCap 0500
Ed Frisby / Scott Mathieson
- Corporate Finance
Abigail Wayne - Corporate Broking
Notes to Editors
Elektron conceives designs and markets innovative engineered
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
- New waves of "aware" business applications: Checkit
- The effect of ageing on sight: Elektron Eye Technology
- Growth in high precision manufacture: Queensgate
- Quality testing and inspection instruments: Sheen
This information is provided by RNS
The company news service from the London Stock Exchange
END
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