Elektron trades in line with upgraded market forecasts

5th Feb 2019 08:15

(Sharecast News) - Global technology firm Elektron expects to have traded in line with upgraded market forecasts in its recently wrapped up trading year.Elektron told investors on Tuesday that revenues were expected to have increased 13% to £33.7m in the year ended 31 January, thanks to Bulgin's high margin product growth strategy and strong conversion of order book to sales.On a unit-by-unit basis, Bulgin saw revenues climb 10%, while Elektron Eye and Checkit recorded 30% and 100% increases, respectively.Looking forward, the AIM-listed outfit said it was "clearly aware" of the current macro-economic uncertainty in the UK, and expressed some caution regarding its future trading.However, Elektron still anticipates that the strong momentum seen during the year will continue and that it will trade at "record levels for the period of current visibility through its first quarter".Chief executive John Wilson said: "The underlying performance of the group during the last financial year has been outstanding and it is expected that profits, notwithstanding incurring £200k of aborted transaction costs, will remain in line with the most recent, upgraded, market forecasts for the year."As of 1110 GMT, Elektron shares had slid 2.27% to 43p.