Shares in AIM-listed technology outfit Elektron Technology (LON:EKT) had dropped by 1.90% to 38p at 16:00 BST after it issued a statement ahead of today’s AGM. The firm announced that its Bugin arm’s order book had substantially improved and that year to date orders were at record levels. As a result, the company now expects to beat last year’s sales performance.
The other segments of the business were in line with forecasts and management said that the Software as a service offering was making good progress. Our own Evil Knievil has previously suggested that the business’s fundamentals might support a target price of 100p, but there will be a way to go before the price reaches those levels.