Markets positive after profits soar at Elektron Technologies

AIM-listed Elektron Technologies (LON:EKT) has reported that revenues for the year ended 31st January rose by 13.1% with growth in all three of the firm’s divisions. Operating profits improved by 77% and management said that trading momentum has remained strong through the first quarter of the current financial year.

CEO John Wilson commented: “The Group’s trading performance in FY19 was exceptional and we have made strong operational and financial progress during the year. Bulgin delivered record profitability, Checkit sales accelerated to plan and EET returned to profitability. We have worked hard to establish the foundation for continued growth in current and future years and hence look to the future with optimism“.

Elektron’s share price rose by 2.82% to 45.24p (as of 14:05 BST).