Analyst Research Report Snapshot

Title:

Elektron Technology - Full Year Results

Price:

$58.00

Provider:

Equity Development

Date:

12 Apr 2012

Pages:

6

Type:

AcrobatPDF

Companies referenced:

EKT.L

Available for Immediate Download
Summary:

Elektron Technology (Elektron) is a UK-based company with a global reach, which manages, exploits and develops its technologies within the Fast Moving Engineered Products (FMEP) sector Full year results were in line with revised expectations, and reflect the resilience of Elektron's sales in a challenging European market and the good progress being made in the Americas Adjusting for the non-recurring and special items, EPS stood at 3.33p (2011: 4.20p). A final dividend of 0.56p per share is proposed, making a total dividend for the year of 0.83p, a 3.8% increase on the previous year The restructuring process underway has seen the management reorganisation completed while the rationalisation of the UK sites continues. The economic outlook remains unclear, but their broadened product and geographical ranges have already made the company more resilient than in previous economic downturns, and this is expected to become more pronounced as the management successfully executes its strategy. We maintain our share price target of 45p, twice current levels.

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