e2v technologies expects modest revenue growth
e2v technologies, a specialist provider of systems and equipment, reported a drop in 2012 earnings as the company underwent a restructuring in the face of a tough trading environment.
e2v technologies, a specialist provider of systems and equipment, reported a drop in 2012 earnings as the company underwent a restructuring in the face of a tough trading environment.
Adjusted earnings per share for the year to March 31st came to 11.07p, down from the prior year's 13.37p.
The company also reported a fall in adjusted profit before tax of £30.8m, compared to £32m a year earlier, as revenue declined to £196.8m from £219.8m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"The full year trading performance reflected the ongoing restructuring and increased flexibility in our cost base which we have utilised to mitigate the challenging trading environment experienced during the year," said Chief Executive Officer, Keith Attwood.
"We have significantly reduced net borrowings and we have built the order book to record levels."
The order book at the end of the period stood at £195m, up 36% from the previous year. Orders for delivery for the next year are up 10% £130m.
Net borrowings were cut to £9.8m from £30m, driven by strong cash generation and the sale of non-core businesses.
The group maintained its full-year dividend with a final dividend of 2.8p per share.
E2v said action was taken to control costs, which helped to maintain operating margins in line with expectations.
"Looking forward, whilst we expect a slow start, we continue to anticipate modest revenue growth for the coming year, reflecting the strength of our order book," Attwood added.
"We remain cautious about the broader economic environment, and the potential impact on orders received and delivered in the year."
Shares rose 2.99% to 129p at 11:49 Monday.
RD
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Which investment trusts could benefit from lower interest rates?
As vehicles for long-term investments, many investment trusts were hit when interest rates rose in 2022. With interest rates expected to fall by the end of the year, could now be the time to invest in one of these unloved sectors?
-
How to protect your personal and financial data from cyber attacks
M&S and the Co-op are the latest retailers to suffer from cyber hacks but consumers also need to be vigilant