Armshare has given an update on Elektron following their AGM and made EKT Armshare meeting of the week.
I attended the AGM myself and the company indicated they were to push through price increases on various products to increase margins and thus profitability going forward. There was a new potential shareholder attending the AGM who indicated Elektron managemt had proved their abilitly in relation to obtaining value through their acquistions.
The Armshare update is as follows....
COMPANY MEETINGSi) Attendance at the AGM on 28th July 2008The key purpose of attending was to meet the recently joined NED, Keith Roy (KR), who retired in July 2008 from being a divisional CEO of fully listed Halma plc (for further details, see June 2008 above). Halma has built a reputation over the last 30 years as an engineering group addressing niche markets with a business model which generates very attractive margins - 19% in 2007/8 - by contrast, Elektron's adjusted operating margin for 2007/8 was 6%. KR was attracted to Elektron because a) it owned Bulgin Components and Sifam, both of which were known to him from his days as a practising engineer, b) the opportunity to significantly improve operating margins through applying the Halma value creation principles to both existing divisions as well as to future acquisitions, and c) he could already see in place certain key managers who will respond positively to the application of those principles.The 5 principles which underlie Halma's approach to creating shareholder value are:a) operate in specialised global markets offering long-term growth underpinned by robust growth drivers;b) build businesses which lead specialised global markets through innovative products differentiated on performance and quality rather than price alone;c) recruit and develop top quality boards to lead the businesses and nurture an entrepreneurial culture within a framework of rigorous financial discipline;d) acquire companies and intellectual assets that extend existing activities, enhance entrepreneurial culture, fit into a decentralised operating structure and meet the group's demanding financial performance expectations;e) achieve a high Return on Capital Employed to generate cash efficiently and to fund organic growth, closely targeted acquisitions and sustained dividend growth.With the above background, RK will play a key role in helping the Elektron board select a CEO with the ability to apply the above principles successfully - doing so will dramatically lift the operating margin over the next 2 to 3 years, which with the present level of sales of £35 million (let alone any acquisitions which may be made) will have a significant impact on profit in relation to the market cap of £9.8 million at 4th August 2008.
Tuesday, 5 August 2008
Saturday, 21 June 2008
Elektron net assets up 9 fold on excellent profits.
Elektron posted excellent results when they reported on the 12th June with net assets up 9 fold in 5 years.
http://www.elektronplc.com/html/news-120608.htm
Highlights:-
Key Points:
Sales up 34% to £35 million following acquisition of Sifam Instruments Limited
Operating profit on continuing operations, before exceptional items and negative goodwill, up 14% to £2.14 million (2007: £1.87 million)
Exceptional costs of £1.05 million (2007: £1.28 million) incurred mainly in relocating manufacturing off-shore
Negative goodwill of £1.16 million arising on the purchase of Sifam Instruments Limited
Profit before taxation from continuing operations up 282% to £1.95 million (2007: £0.51 million)
Proposed final dividend up 12.5% to 0.45p per share
Basic earnings per share up 452% to 2.76p (2007: 0.50p)
Earnings per share from continuing operations before goodwill, exceptional and discontinued items 2.48p (2007: 1.73p)
Tangible net assets per share up nine-fold over the last 5 years to 11.7p
Net gearing of 15% at 31 January 2008 (2007: 70%)
These were excellent results from Elektron. Net assets increased more than 25% from approx £8 million last year to over £10 million this year helped by an exceptional profit on the purchase of Sifam which they purchased less than net asset value. Had the company not had exceptional charges in relation to the transfer of manufacturing of arcolectric net assets would have been far higher. The dividend was up in double digits of 12.5% to 0.45p. All in all a very credible performance.
Current orders are down in all subsidiaries however the company indicated this was in the main to their suppliers taking a more cautious approach and thus destocking. Within the subsidiaries though trading appears to be mixed. In particular in Bulgin /Arcolectric as 30% of components serves the retail arena switches will be affected far more than some of Bulgin's higher margin products. The company however have new products in the pipeline and they have also appointed two more distributors .
Howle has mixed trading with current orders down high cobalt prices which have doubled the last year aren't helping. The company are however winning new customers and have brought back in some work that has been previously sub contracted. The company are confident they have not lost any customers though and are investing in new machinery in order to manufacture other "value added products". This is what the company said....
"In medium and longer term we continue our strategy to invest in the machinery to enable us to win more 'value added' business. Customers continue to demand greater dimensional accuracy in sintered products and more complexity in ground products. We focus on circular ground products for the oil, gas and other industries where precision quality and speed of delivery are paramount. This strategy will reduce our sensitivity to material price fluctuations and extend our move into niche markets where aggressive pricing is not the major element of supply.
In parallel we are evaluating the feasibility of moving the manufacture of less complex components off-shore."
Sifam again is showing mixed trading Queensgate weak however Digitron sales appear to be improving from satisfactory in the first quarter to solid the second quarter. Sifam has four operations the other two operations knobs and meters. The company state they will offshore the knobs business which should improve margins and sales growth will come from entering new markets. To a lesser extent margins will improve from the offshoring of other products.
The company generated approx £3.4 million of cash and ended the year with net debt of approx £1.5 million and had near £2 million in cash in the bank.
As for the future this year is uncertain however as said previously the suppliers have been destocking. Things could reverse quickly. The company have considerable new products in the pipeline both in Bulgin/Arcolectric and Digitron. Digitron are already marketing new products the company indicated more new products in the pipeline would improve sales and profitability from next year into 2010 and beyond.
"Keith Daley, Chairman of Elektron commented, 'These are excellent results, especially given the fact that they were achieved during a period of intense commodity price inflation. The current year will be more challenging but we believe that economic turbulence will provide further opportunities for growth through acquisition."
The CE said...
"strategy and Outlook
Our approach is three pronged:
Growing the Group both organically by developing new products and markets as well as by acquisition.
Improving margins by reducing costs and increasing prices where possible.
Optimising organisational structure by ensuring that appropriate management, engineering, IT and financial resources are in place"
Conclusion :-
The company has driven net assets up 9 fold the last 5 years. Net assets have increased more than 25% this year alone. They have acquired 3 subsidiaries in the same time scale. Turnover has near quadrupled in 5 years. All operating subsidiaries are in profit. Management have proven they have the skills to buy companies on the cheap and turn them around quickly. There is no doubt that things aren't going to be easy this year however looking at the rest of the market other sectors have shown a far worse performance.
The credit crisis has decimated the banks having lost approx 70% of their value. Retailers are in for a bad time. Builders have seen their share prices fall up to 90% in some cases.
Elektron is now on a low pe ratio with a good balance sheet. There is no goodwill to write off, what you see is what you get. The net asset value is 11.7p per share.
The company have been buying back shares and they are still on the acquisition trail having said they expect more opportunites to present themselves as other companies struggle in the present market envireoment
Elektron yield is more than 3%.
The company has just appointed another highly experienced director from a footsie 250 company as non executive and present management seem determined to grow the company despite the present economic envireoment.
http://www.elektronplc.com/html/news-120608.htm
Highlights:-
Key Points:
Sales up 34% to £35 million following acquisition of Sifam Instruments Limited
Operating profit on continuing operations, before exceptional items and negative goodwill, up 14% to £2.14 million (2007: £1.87 million)
Exceptional costs of £1.05 million (2007: £1.28 million) incurred mainly in relocating manufacturing off-shore
Negative goodwill of £1.16 million arising on the purchase of Sifam Instruments Limited
Profit before taxation from continuing operations up 282% to £1.95 million (2007: £0.51 million)
Proposed final dividend up 12.5% to 0.45p per share
Basic earnings per share up 452% to 2.76p (2007: 0.50p)
Earnings per share from continuing operations before goodwill, exceptional and discontinued items 2.48p (2007: 1.73p)
Tangible net assets per share up nine-fold over the last 5 years to 11.7p
Net gearing of 15% at 31 January 2008 (2007: 70%)
These were excellent results from Elektron. Net assets increased more than 25% from approx £8 million last year to over £10 million this year helped by an exceptional profit on the purchase of Sifam which they purchased less than net asset value. Had the company not had exceptional charges in relation to the transfer of manufacturing of arcolectric net assets would have been far higher. The dividend was up in double digits of 12.5% to 0.45p. All in all a very credible performance.
Current orders are down in all subsidiaries however the company indicated this was in the main to their suppliers taking a more cautious approach and thus destocking. Within the subsidiaries though trading appears to be mixed. In particular in Bulgin /Arcolectric as 30% of components serves the retail arena switches will be affected far more than some of Bulgin's higher margin products. The company however have new products in the pipeline and they have also appointed two more distributors .
Howle has mixed trading with current orders down high cobalt prices which have doubled the last year aren't helping. The company are however winning new customers and have brought back in some work that has been previously sub contracted. The company are confident they have not lost any customers though and are investing in new machinery in order to manufacture other "value added products". This is what the company said....
"In medium and longer term we continue our strategy to invest in the machinery to enable us to win more 'value added' business. Customers continue to demand greater dimensional accuracy in sintered products and more complexity in ground products. We focus on circular ground products for the oil, gas and other industries where precision quality and speed of delivery are paramount. This strategy will reduce our sensitivity to material price fluctuations and extend our move into niche markets where aggressive pricing is not the major element of supply.
In parallel we are evaluating the feasibility of moving the manufacture of less complex components off-shore."
Sifam again is showing mixed trading Queensgate weak however Digitron sales appear to be improving from satisfactory in the first quarter to solid the second quarter. Sifam has four operations the other two operations knobs and meters. The company state they will offshore the knobs business which should improve margins and sales growth will come from entering new markets. To a lesser extent margins will improve from the offshoring of other products.
The company generated approx £3.4 million of cash and ended the year with net debt of approx £1.5 million and had near £2 million in cash in the bank.
As for the future this year is uncertain however as said previously the suppliers have been destocking. Things could reverse quickly. The company have considerable new products in the pipeline both in Bulgin/Arcolectric and Digitron. Digitron are already marketing new products the company indicated more new products in the pipeline would improve sales and profitability from next year into 2010 and beyond.
"Keith Daley, Chairman of Elektron commented, 'These are excellent results, especially given the fact that they were achieved during a period of intense commodity price inflation. The current year will be more challenging but we believe that economic turbulence will provide further opportunities for growth through acquisition."
The CE said...
"strategy and Outlook
Our approach is three pronged:
Growing the Group both organically by developing new products and markets as well as by acquisition.
Improving margins by reducing costs and increasing prices where possible.
Optimising organisational structure by ensuring that appropriate management, engineering, IT and financial resources are in place"
Conclusion :-
The company has driven net assets up 9 fold the last 5 years. Net assets have increased more than 25% this year alone. They have acquired 3 subsidiaries in the same time scale. Turnover has near quadrupled in 5 years. All operating subsidiaries are in profit. Management have proven they have the skills to buy companies on the cheap and turn them around quickly. There is no doubt that things aren't going to be easy this year however looking at the rest of the market other sectors have shown a far worse performance.
The credit crisis has decimated the banks having lost approx 70% of their value. Retailers are in for a bad time. Builders have seen their share prices fall up to 90% in some cases.
Elektron is now on a low pe ratio with a good balance sheet. There is no goodwill to write off, what you see is what you get. The net asset value is 11.7p per share.
The company have been buying back shares and they are still on the acquisition trail having said they expect more opportunites to present themselves as other companies struggle in the present market envireoment
Elektron yield is more than 3%.
The company has just appointed another highly experienced director from a footsie 250 company as non executive and present management seem determined to grow the company despite the present economic envireoment.
Tuesday, 2 October 2007
Elektron enters exciting nanotechnology arena
Elektron has acquired Sifan Instruments on the 9th Aug 2007.
http://www.sifam.com/
Sifan has 4 operations....Digitron (temperature probes etc) , Control knobs , meters, queensgate instuments ( nanotechnology division).
Sifam is an exciting acquisition for Elektron. It takes them into higher margin and more sophisticated products.
This is what Elektron had to say about the purchase...
Change of ownership at Sifam Instruments Ltd
"We are delighted to announce that Sifam Instruments Ltd has been sold to specialist electrical company Elektron with the deal being finalised on 8th August. Digitron Instrumentation Ltd, a wholly owned subsidiary of Sifam, is also included in the sale of the overall company. We expect the acquisition to bring new ideas and energy resulting in new product and customer service offerings.
Chairman of Sifam Instruments, Ian Bye, said: "I am confident that this is an excellent fit for both parties and that we will benefit from being part of a much larger group.
Chris Leigh, a spokesman for Elektron, says "We have bought Sifam because we believe in the business and it is one that we want to invest in and see prosper, not for job cutting purposes. It will continue to be run in pretty much the same way by the existing management.
Adrian Girling, chief executive of Elektron, said: "We are delighted to welcome the Sifam businesses, with their well-known brand names, to the Elektron team. Sifam and its subsidiaries bring technologies and expertise that will help Elektron decrease its dependence on low cost commodity components.
The purchase ends a period of speculation and uncertainty, and is warmly welcomed by the 180 staff at our Torquay site."
Financial details:-
Elektron paid on completion an initial consideration of £2 million in cash financed from its own resources. The consideration may be increased or reduced on a pound for pound basis by a maximum of £300,000 subject to net assets at completion (with Sifam's freehold property assets included at cost price) being greater or less than £2.1 million and/or profits for the year to 30 November 2007 being greater or less than £285,000.
Post completion, Sifam will settle in full its liability of £910,000 owing to the Sifam Limited Retirement and Death Benefits Plan. No further payments will be due in this respect.
Post acquisition 10th August 2007
Elektron sold the freehold properties and did a sale and lease back to Panther Secutities.
http://www.elektronplc.com/html/DisposalofSifamproperties.htm
Result an exceptional profit of over £1 million !
http://www.sifam.com/
Sifan has 4 operations....Digitron (temperature probes etc) , Control knobs , meters, queensgate instuments ( nanotechnology division).
Sifam is an exciting acquisition for Elektron. It takes them into higher margin and more sophisticated products.
This is what Elektron had to say about the purchase...
Change of ownership at Sifam Instruments Ltd
"We are delighted to announce that Sifam Instruments Ltd has been sold to specialist electrical company Elektron with the deal being finalised on 8th August. Digitron Instrumentation Ltd, a wholly owned subsidiary of Sifam, is also included in the sale of the overall company. We expect the acquisition to bring new ideas and energy resulting in new product and customer service offerings.
Chairman of Sifam Instruments, Ian Bye, said: "I am confident that this is an excellent fit for both parties and that we will benefit from being part of a much larger group.
Chris Leigh, a spokesman for Elektron, says "We have bought Sifam because we believe in the business and it is one that we want to invest in and see prosper, not for job cutting purposes. It will continue to be run in pretty much the same way by the existing management.
Adrian Girling, chief executive of Elektron, said: "We are delighted to welcome the Sifam businesses, with their well-known brand names, to the Elektron team. Sifam and its subsidiaries bring technologies and expertise that will help Elektron decrease its dependence on low cost commodity components.
The purchase ends a period of speculation and uncertainty, and is warmly welcomed by the 180 staff at our Torquay site."
Financial details:-
Elektron paid on completion an initial consideration of £2 million in cash financed from its own resources. The consideration may be increased or reduced on a pound for pound basis by a maximum of £300,000 subject to net assets at completion (with Sifam's freehold property assets included at cost price) being greater or less than £2.1 million and/or profits for the year to 30 November 2007 being greater or less than £285,000.
Post completion, Sifam will settle in full its liability of £910,000 owing to the Sifam Limited Retirement and Death Benefits Plan. No further payments will be due in this respect.
Post acquisition 10th August 2007
Elektron sold the freehold properties and did a sale and lease back to Panther Secutities.
http://www.elektronplc.com/html/DisposalofSifamproperties.htm
Result an exceptional profit of over £1 million !
Friday, 6 July 2007
Elektron PLC reports record profits.
Elektron PLC has now reported record profits for year end 31st Jan 2007.
Highlights:-
Sales increased 16% to £26 million sterling.
Pre tax profit before exceptional items £1,874,000 (£1,791,000)
Eps before exceptional items 1.73p (1.65p)
Cash generated from operations £2,095,000
Dividend rises 14% to 0.4p.
Annualised sales from continuing operations of circa £30 million, treble that of four years ago.
Elektron PLC reported record pre exceptional profits yet again for year end Jan 2007.
The only cautious element in the RNS was Arcolectric sales and margins seemed to have been affected by sterling now at record highs. However the company indicated they were addressing those issues and hope to be manufacturing higher margin products to counter sterling at its all time highs and the impact of high cost of raw materials. It has to be said Arcolectric is UK based and the Bulgin business which has bow been transfered to Tunisia is not now affected by strength of sterling.
Bulgin sales are still strong at and they appear to be doing well in the US. More information can be seen from an earlier blog on the US. The cost savings of approx £900,000 have yet to feed fully through as the company only exitted the Barking factory in March 2007.
The HOH acquisition appears to have been bought on the cheap now as they made £168,000 operating profit before losses of £80,000 incurred at NPE and Richard Loyd for the 3 months under EKT control i.e Nov, Dec, Jan. NPE has now been disposed of and the NPE freehold factory is in negotiations for sale. So is the business of Richard Loyd. According to EKT management sales are rising and they see better things ahead. Following the sale and lease back core debt has been considerably reduced to approx £2 million. The sale of NPE business and the freehold factory will reduce this further. It would seem reasonable to estimate operating profits from the HOH acquisition going forward £500,000 to £750,000 before interest. EKT only paid £3 million for the HOH business the return on capital is approx 20%.
The final dividend rises 14% to 0.40p and the company indicate that the rise in dividend is indicative of confidence in the business. x dividend is on the 8th August and the divi is payable on the 7th Sept 2007. It looks like on past performance EKT will continue a double digit rise in dividends going forward.
It would appear Elektron are still on the acquisition trail and the CE Adrian Girling hopes to grow Elektron to a £100 million turnover business in the medium term.
The company have also indicated they are looking to buy back shares subject to funds not needed elsewhere that said as the buy backs have not re commenced it would appear the company may have their eyes on another acquisition.
In the last 5 years net assets per share have risen at a rapid rate and it seems this could continue:-
Year end 31st Jan 2003 net assets 0.96million net asset value per share 0.63p
Year end 31st Jan 2004 net assets 3.34million net asset value per share 5.30p
Year end 31st Jan 2005 net assets 5.45million net asset value per share 6.29p
Year end 31st Jan 2006 net assets 6.57million net asset value per share 7.57p
Year end 31st Jan 2007 net assets 8 million ...net asset value per share 9.23p
All in all new EKT management have proved they can turn businesses round and provide value for shareholders. There should be some rich rewards for investors holding for the long term.
Highlights:-
Sales increased 16% to £26 million sterling.
Pre tax profit before exceptional items £1,874,000 (£1,791,000)
Eps before exceptional items 1.73p (1.65p)
Cash generated from operations £2,095,000
Dividend rises 14% to 0.4p.
Annualised sales from continuing operations of circa £30 million, treble that of four years ago.
Elektron PLC reported record pre exceptional profits yet again for year end Jan 2007.
The only cautious element in the RNS was Arcolectric sales and margins seemed to have been affected by sterling now at record highs. However the company indicated they were addressing those issues and hope to be manufacturing higher margin products to counter sterling at its all time highs and the impact of high cost of raw materials. It has to be said Arcolectric is UK based and the Bulgin business which has bow been transfered to Tunisia is not now affected by strength of sterling.
Bulgin sales are still strong at and they appear to be doing well in the US. More information can be seen from an earlier blog on the US. The cost savings of approx £900,000 have yet to feed fully through as the company only exitted the Barking factory in March 2007.
The HOH acquisition appears to have been bought on the cheap now as they made £168,000 operating profit before losses of £80,000 incurred at NPE and Richard Loyd for the 3 months under EKT control i.e Nov, Dec, Jan. NPE has now been disposed of and the NPE freehold factory is in negotiations for sale. So is the business of Richard Loyd. According to EKT management sales are rising and they see better things ahead. Following the sale and lease back core debt has been considerably reduced to approx £2 million. The sale of NPE business and the freehold factory will reduce this further. It would seem reasonable to estimate operating profits from the HOH acquisition going forward £500,000 to £750,000 before interest. EKT only paid £3 million for the HOH business the return on capital is approx 20%.
The final dividend rises 14% to 0.40p and the company indicate that the rise in dividend is indicative of confidence in the business. x dividend is on the 8th August and the divi is payable on the 7th Sept 2007. It looks like on past performance EKT will continue a double digit rise in dividends going forward.
It would appear Elektron are still on the acquisition trail and the CE Adrian Girling hopes to grow Elektron to a £100 million turnover business in the medium term.
The company have also indicated they are looking to buy back shares subject to funds not needed elsewhere that said as the buy backs have not re commenced it would appear the company may have their eyes on another acquisition.
In the last 5 years net assets per share have risen at a rapid rate and it seems this could continue:-
Year end 31st Jan 2003 net assets 0.96million net asset value per share 0.63p
Year end 31st Jan 2004 net assets 3.34million net asset value per share 5.30p
Year end 31st Jan 2005 net assets 5.45million net asset value per share 6.29p
Year end 31st Jan 2006 net assets 6.57million net asset value per share 7.57p
Year end 31st Jan 2007 net assets 8 million ...net asset value per share 9.23p
All in all new EKT management have proved they can turn businesses round and provide value for shareholders. There should be some rich rewards for investors holding for the long term.
Tuesday, 29 May 2007
Arcolectric-Bulgin thrives in the US.
Arcolectic-Bulgin are thriving in the US and have started to issue regular newsletters for their North America partners. New products and new initatives will drive forward growth.
"Arcolectric-Bulgin Components continues to
grow and yes, thrive in North America. The
professionalism and enthusiasm exhibited by
our selling teams not only impresses me, but
our parent organization, Elektron, as well.
New, and innovative opportunities present
themselves daily."
"Arcolectric-Bulgin Components continues to
grow and yes, thrive in North America. The
professionalism and enthusiasm exhibited by
our selling teams not only impresses me, but
our parent organization, Elektron, as well.
New, and innovative opportunities present
themselves daily."
US sales conference...
"Our message was a simple one; we are a reinvigorated
business looking aggressively for growth, by bringing more
flexibility, support and new products to market. Judging by
the feedback, some of which you will find enclosed, the
message was delivered well. It is a credit to all for making this
event a success."
The first edition was published in May 2007 and can be dowloaded here...
http://www.arcolectric.com/downloads/SwichedOn-NewsletterUSA.pdf
Wednesday, 16 May 2007
Elektron PLC develops eco products.
edit 21st May 2007...
New switches now being marketed...
New switches now being marketed...
Elektron is starting to lead the way with eco friendly products. They have a number of new products they are now starting to market in particular an electronic cooker hood switch that can sense when to switch itself on from the cooking fumes and an electronic switch that cuts an iron off if it hasnt been used in a pre determined time. These products are sure to go down very well.
Arcolectric has already benefited from various product designs and this press release from Reading University is very interesting.....
http://www.reading.ac.uk/about/newsandevents/releases/PR194.asp
"Reading student is 'Most Enterprising Student 2005'
Release Date : 08 September 2005
University of Reading student Mark Chatterton is celebrating after winning the Shell STEP Award for the 'Most Enterprising Student' in the central southern England area. Mark scooped the award at a ceremony at the University on Monday 5 September for his work at Surrey-based Arcolectric Ltd.The firm chose Mark, who studies Electronic Engineering, to work on the challenging summer project. In just eight weeks, Mark, 20 managed to design and build a prototype mains rocker switch incorporating a low-cost microcontroller to count mains frequency cycles and disconnect the switch after a pre-determined time.The project has resulted in immediate benefits for Arcolectric, with one manufacturer expressing an interest in purchasing 750,000 units of the product he created.Winner Mark said: "I am thrilled to have come this far in a nationally-recognised competition. I have learned so much this summer, which I am confident will stand me in good stead when I apply for jobs in the future."Presenting the award, Dr Virginie Ruiz, chair of the judges, added: "Congratulations to Mark for winning this award. Achieving what he has in just eight weeks is no mean feat, and I'm confident this will impress future employers."Craig Ollier, 21, and studying Management and Business Administration at Reading, was 'Highly Commended' for his work with @UK. He had to develop a business plan to expand the company into other areas of the world.Shell STEP is a national programme arranging structured summer work placements for students at small and medium-sized businesses (SMEs). It matches undergraduates to SMEs with specific development projects, in order to develop the students' workplace skills. While at the host company, students can put the theory they've learnt at university into practice.As part of the programme support process, students learn about the small business sector and have the opportunity to develop many core skills, such as time and project management, which increases their employability significantly.In the process, the projects can also increase the growth and innovation potential of the host business. Most small businesses involved are convinced by Shell STEP of the value a student project can deliver, with 96% of last year's SME participants stating that they would offer further opportunities to students in the future.Mark beat 12 other local finalists, and he will now go forward to the Shell STEP Regional Final the Shell Centre in London on Wednesday 14 September. More than 1,000 STEP projects took place over the summer this year in the UK overall. "
Arcolectric has already benefited from various product designs and this press release from Reading University is very interesting.....
http://www.reading.ac.uk/about/newsandevents/releases/PR194.asp
"Reading student is 'Most Enterprising Student 2005'
Release Date : 08 September 2005
University of Reading student Mark Chatterton is celebrating after winning the Shell STEP Award for the 'Most Enterprising Student' in the central southern England area. Mark scooped the award at a ceremony at the University on Monday 5 September for his work at Surrey-based Arcolectric Ltd.The firm chose Mark, who studies Electronic Engineering, to work on the challenging summer project. In just eight weeks, Mark, 20 managed to design and build a prototype mains rocker switch incorporating a low-cost microcontroller to count mains frequency cycles and disconnect the switch after a pre-determined time.The project has resulted in immediate benefits for Arcolectric, with one manufacturer expressing an interest in purchasing 750,000 units of the product he created.Winner Mark said: "I am thrilled to have come this far in a nationally-recognised competition. I have learned so much this summer, which I am confident will stand me in good stead when I apply for jobs in the future."Presenting the award, Dr Virginie Ruiz, chair of the judges, added: "Congratulations to Mark for winning this award. Achieving what he has in just eight weeks is no mean feat, and I'm confident this will impress future employers."Craig Ollier, 21, and studying Management and Business Administration at Reading, was 'Highly Commended' for his work with @UK. He had to develop a business plan to expand the company into other areas of the world.Shell STEP is a national programme arranging structured summer work placements for students at small and medium-sized businesses (SMEs). It matches undergraduates to SMEs with specific development projects, in order to develop the students' workplace skills. While at the host company, students can put the theory they've learnt at university into practice.As part of the programme support process, students learn about the small business sector and have the opportunity to develop many core skills, such as time and project management, which increases their employability significantly.In the process, the projects can also increase the growth and innovation potential of the host business. Most small businesses involved are convinced by Shell STEP of the value a student project can deliver, with 96% of last year's SME participants stating that they would offer further opportunities to students in the future.Mark beat 12 other local finalists, and he will now go forward to the Shell STEP Regional Final the Shell Centre in London on Wednesday 14 September. More than 1,000 STEP projects took place over the summer this year in the UK overall. "
Sunday, 13 May 2007
An investers thoughts....
Reviewing my investments this week end and by coincidence, my profit/loss on EKT is 0p today after 2 years...Now some would say that is a bad investment...but then they, i bet, have held investments that have gone tits up over similar periods of time....and this has not.The fact is, huge profits and loses are invariable linked to high risk and in my opinion, EKT has shown its self to be very low risk and, considering the ups and downs of the markets over the last few years, it has remained a safe place to leave some cash.The downside has been tested with market slumps and a falling dollar...a difficult period in any companies year must be the closing of a production plant and the opening of a new one but this too has been carried out with no adverse affect on production or delivery. Cost have been cut and cash generated has been shrewdly invested to generate more cash and further diversify the core business.The management have not gone the risky, boom/bust route in an effort to attract the traders and rocket the SP...instead they have steadily cut cost with the move abroad for production and assembly, expanded the core business at a sustainable rate with acquisitions(production and property)and opened up new possibility's with far Eastern customers..The upside is we now have money invested in a proven stable company, an expanding company, and a company that has a proven track record of reliability for the investor when times are not so good in the markets.#It would have been nice to buy in now rather than 2 years ago but if we had a crystal ball to tell us these things...well wouldn't life be simple..As it is i think that we will hear from EKT in the next month and i think It will be good news ! ..sure if you want to gamble and take bigger risks you could make quick bucks else where if you are lucky ;-) but i think the proportional, likelihood of making good money here for very little risk is a better bet. With that in mind, I will be adding to my holding here :-)
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