Intelek, the electronics satelite and microwave communications specialist, posted today a full year result down slightly on a 'bumper' year in 2008/9.
"I am pleased to report a resilient performance by Intelek in a year which presented all Group companies with significant challenges. A combination of growth in our government and defence business and continued attention to costs at all levels has enabled the Group to exceed management's expectations. Overall, the Board expects to see a return to sales growth year on year, whilst increasing investment in our facilities and product development as we prepare for growth in the years ahead." said Chairman, David Bramwell.
The AIM-listed company posted full year profit down 4 pct to £3.9m, sales down 4 pct to £37.7m and underlying EPS down 6 pct to 3.12p.
Full year dividend was maintained at 0.465p.
Redmayne Bentley, who reported on this company in April rate it a 'strong buy'.
Net debt has also been reduced to £1.6 million.