e2v on track for full year forecasts

Electrical component supplier e2v technologies said it was on track to meet full year performance forecasts after trading in line with expectations over the last four months.

However, its shares fell slightly as the firm said its order book was down on the same time last year.

The company's order book for delivery over the coming 12 months was £131m at the end of December, compared with £143m the year before, it said.

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Its total order book is £156m including £4m for last time buy products, down from £166m in 2010, including £12m for last time buy products.

The firm said over 50% of its revenue was now with customers outside of Western Europe, up 3% from 31 March 2011.

Net borrowings at the end of 2011 were around £33m, up from £32m at the end of September following payment of an interim dividend and the purchase of a new US facility.

The firm is targeting net borrowings , which exclude capitalised borrowing costs, at a similar level at the end of March.