Elektron says outlook is murky
Shares in Elektron Technology tanked on Thursday after it warned weak levels of demand might continue into the second half of the financial year.
Shares in Elektron Technology tanked on Thursday after it warned weak levels of demand might continue into the second half of the financial year.
The stock lost almost 16% of its value after the firm posted a drop in first half revenues and warned about the outlook for trading.
The firm also said it would not pay an interim dividend and would make a decision on any final dividend in the light of second half trading.
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
However, it highlighted the fact it had returned £1.1m cash to shareholders via payment of a final 2012 dividend in August and the purchase of 2.4m shares.
Revenue fell to £29.9m from £34.4m the year before, while pre-tax profits were down markedly to £0.8m, from £2.8m in 2011.
The firm blamed "the on-going downturn in European economies and reduced UK Government spending making for difficult trading conditions".
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.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Review: Eden Roc Cap Cana – fun, sun and golf in the Caribbean
Travel Eden Roc Cap Cana in the Dominican Republic offers everything from relaxing by the pool to a world-class golf course
-
Reeves delays cash ISA reform, but savers are not out of the woods yet
The chancellor has reportedly delayed plans to cut the cash ISA limit, which were set to be announced at Mansion House on 15 July, and will take more time to consult with the industry