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Intelek seeing signs of improved trading in second half

Published: 11:47 11 Sep 2009 BST

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Intelek PLC (AIM: ITK) reiterated that it expects a resilient performance for the full-year but various contract wins and opportunities currently being addressed have given the group more confidence in an improved trading performance in the second half of the year.

The company specialises in the design and manufacture of electronic systems and components for the satellite and wireless communications markets and structural components for the aerostructures market.

In a statement prepared for today’s AGM, Intelek said its unit Paradise Datacom, as previously announced, started the year slowly. Commercial markets remain weak and consequently it is more dependent on high value government contracts in the current year. “Encouragingly, we are bidding on a number of other large government programmes which should provide a boost to our sales in the second half.”

Trading at Labtech Microwave is in line with last year. There has been a continued build up of military business and a recent surge in short-term demand for the new generation of high specification telecoms' products. Intelek expects to see a continuing improvement at Labtech through the remainder of the year.

As previously flagged, the aerostructures division CML has faced a number of challenges due to the sharp downturn in the corporate jet market.  Management took early action and significant cost reductions were introduced in April this year. Despite an encouraging recovery in the second quarter, CML's overall performance is still expected to be substantially lower than last year.

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