Elektron Technology's Bulgin sees 'significantly stronger' order book

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Shareholders in Elektron Technology were told of how the Bulgin division’s order book was “significantly stronger” than a year ago on Wednesday, as they gathered for the annual general meeting.

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The AIM-traded firm said both the order book and year-to-date orders at Bulgin were at new record levels, with sales at the half-year expected to be at least £1m ahead of last year's £12.5m.

“As a result of continued strong demand and despite order visibility of around 12 weeks, the board now expects sales for the full year to be ahead of the £27.3m achieved last year,” the board said in its statement.

It said Checkit, the group's software-as-a-service model business, continued to make strong progress and was in “advanced discussions” with a number of global businesses with a view to adoption of Checkit's technology.

“Elektron Eye Technology continues to trade in line with expectations,” the board added.

Elektron said it expected to provide an update on current year first half sales and cash in early August.