Elektron Technology’s AGM update has revealed a strong start to the year, with performance ahead of expectations. This has been driven by Bulgin, which is trading strongly across all territories. Management now expects Bulgin to report H1 19 sales of at least £13.5m (up c.8%) and anticipates modest sales growth for the business for FY19, despite a tough H2 comparative. Meanwhile Checkit continues to make good progress in driving adoption of its real-time operations management and monitoring solution, and Elektron Eye Technology is trading in line with expectations. We have increased our forecasts for Bulgin in line with updated guidance, driving an upgrade to adjusted group PBT and EPS of 20% for FY19, followed by 5% for FY20.
