KEY POINTS:
-Excellent progress has been maintained in positioning Intelek as a specialist supplier to the wireless communications industry.
-Profit before exceptional items, goodwill amortisation and tax grew by 33% to £2.40m (2000 : £1.80m) on turnover up by 7% to £35.9m (2000 : £33.6m).
-Headline earnings per share improved by 25% to 3.87p (2000 : 3.09p).
-Final dividend of 0.66p is being recommended (2000 : 0.55p) making a total of 0.90p for the year (2000 : 0.75p) a 20% increase.
-Gearing excluding goodwill at the year-end was 63% (2000 : 105%).
-In March 2001, Intelek acquired Paradise Datacom, a manufacturer of satellite communications modems and power amplifiers, for a maximum consideration of £18.3m which was part-funded by a £10.1m share issue.
-A.C.E. Tooling was sold also in March 2001 – and will realise £0.8m.
On prospects, Chairman, Roger Fletcher stated, We continue to expect the full year to show further significant progress.
