EKT is having the turn around most companies would like to have at the beginning of the economic recovery.

The change of management and subsequent restructuring has brought the desire effect on the company fortunes, by eliminating loss making business and careful control on cost, they had managed an operating profit on all the three divisions at the Interim stage.

The good news has not finished there, as new products were introduced and were well received and the next stage will be for expansion on the Far East markets on selected niche areas of component distribution.

A 14% reduction on borrowing at a time of restructuring is very significant to the aims of the company for the future.

At 7.125p the shares have plenty of upside from now on, not only from the recovery on profits, but also from the most likely return of dividends at the final and that will be the icing on the cake for the share price.
Update
27th Oct 03 Elektron Employee Benefit Trust buys 300th shares at 6.40p
29th Oct 03 Director Richard Bulgin buys 25K at 7.25p latest

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Strong financial results at a time of significant change bodes well. Still a long way to go, but balance sheet in decent shape and start of current year suggests more growth on the way. Not looking expensive imo on fundamentals, but always dyor.

Elektron Technology (AIM:EKT) results don’t say too much but surely some focus is needed!

See more at: http://tinyurl.com/o3m9eav

StockMarketWire.com
Elektron Technology's group operating profits rose by 80% to £0.9m in the year to the end of January on reduced revenues of £43.3m (2015: £44.4m).

Profit before tax rose to £0.8m (2015: £0.2m) and underlying operating profits (before non-recurring or special items) from Connectivity and Instrumentation, Monitoring and Control (IMC) rose by 42% to £3.4m (2015: £2.4m). Checkit start-up losses increased to £2.2m (2015: £0.7m) while net debt fell by £1.1m to £1.6m (2015: £2.7m).

Other highlights include:
- The Group successfully balanced its investment in new product development (particularly Checkit) with the incoming cash flow from its established businesses as targeted

- A further £1.5m of capitalised development costs invested in Checkit in the year

- Checkit launched its work management system in October 2015

- Agar business sold after the year end for £2.0m cash proceeds and a further £0.3m deferred amount

Chief executive John Wilson said: "These results, together with the recently announced disposal, demonstrate the further progress we have made. We have continued to improve current business performance, allowing investment to establish a high growth portfolio of brands for the longer term.

"We remain focused on key new product development programmes, in particular relating to the Checkit brand and where possible, realising value from our current portfolio. The Board is confident that this strategy will deliver improved shareholder value in the longer term."