Intelek (AIM: ITK) profit before tax expected to be slightly ahead of ‘management’ expectations
The designer and manufacturer of electronic systems for satellite and microwave communication and specialist manufacturer for the aerospace market spoke of low levels of business from commercial markets but that the government and defence business has been a source of strength in all operating divisions.
Comprised of three divisions, Intelek spans satellite communications (Paradise Datacom), microwave components (Labtech), and aero structures and components (CML).
Paradise Datacom, which provided 47% of total sales (Labtech: 18%, CML: 35%) closed the year impressively, with sales of £18.3m and an operating profit of £3.6m. March sales included $1.2m of modems and related equipment for an international telecommunications company, with the order booked and delivered within a month. Sales of solid state amplifiers were…
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