13 September 2012 – interim results
Challenging trading conditions at engineering products group Elektron have led to lower first half results for the six months to 31 July compared with the same period last year. Revenues have fallen to £29.9m (2011: £34.4m) whilst adjusted pre-tax profits have fallen to £1.5m (2011: £3.4m). Earnings per share on the same basis have fallen to 1.02p (2011: 2.38p) and no dividend has been declared. Net debt at the end of the period had risen to £4.6m (2011: £4.4m). It seems unlikely that trading will pick up significantly in the short term although longer term prospects remain more promising. HOLD.