LONDON (dpa-AFX) - e2v technologies plc (E2V.L) announced that its Group revenue, excluding the disposal businesses, for the financial year ended 31 March 2013 is expected to be around 197 million pounds, down 10% compared with the last financial year, reflecting challenging markets, delayed order placement and limited progress on space programmes. Full-year trading performance is anticipated to be in line with expectations, reflecting the on-going restructuring and increased flexibility in cost base.
e2v said it has significantly reduced net borrowings and has built the order book to record levels. The Group's total order book as at 31 March 2013 was at 195 million pounds, compared to 143 million pounds prior year. Net borrowings at 31 March 2013 were approximately 10 million pounds.
e2v anticipates modest revenue growth for the coming year, reflecting the strength of its order book. The Group said it remains cautious about the broader economic environment, and the potential impact on orders received and delivered in the year.
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