e2v: ‘Sound performance’

Announcing its results for the year ended 31 March, the developer and manufacturer of high-technology electronic components and sub-systems to the medical & science, aerospace & defence, and commercial & industrial sectors, also said it had strengthened its order book since the year end, which increased its confidence in the current year outcome. During the period, e2v generated record revenue - up 18% at £204.6 million (£173.9m) although pre-tax profit was unchanged at £13.7 million. The former Marconi-owned business said 2007/8 had been a year of integration and consolidation, following the acquisition of its Grenoble facility in 2006/7. It also launched its "Fit for the Future" business improvement programme in the UK with the principal objective of sharpening up customer service by simplifying product lines and processes. Good progress had been made, e2v said, though there was more opportunity and the project would continue through 2008/9. Commenting on the results, chief executive Keith Attwood (pictured) said: "This is a sound overall performance for the year. e2v is well positioned to capitalise on organic growth opportunities across both product groups (the sensors and semiconductors product group and the electronic tubes and associated sub-systems product group), following the integration of the Grenoble business and the restructuring and refocusing of our sales organisation. Our ongoing focus on internal efficiencies further underpins anticipated performance improvement. We continue to review acquisition opportunities, with a view to strengthening our geographic and market sector positioning. Overall, we are confident of continued progress through 2008/9." e2v has three engineering and manufacturing sites in the UK, one in France and one in Switzerland.