Rakon Annual Report

Rakon Annual Report

Newly-listed Rakon Ltd has just released its annual report which shows an audited net surplus after tax of $4.802m, up 9% on forecast and a 65% increase on the previous year surplus of $2.9m. Total revenue for the year was $74.371m.

The report covers the year ended March 31, prior to the company’s May 16 listing on the New Zealand Stock Exchange.

The first announcement of its performance since listing will be the half-yearly results at the end of November. An update of the business will be given to shareholders at the (first) annual shareholders meeting in September.

Rakon’s Managing Director, Brent Robinson, says the company is continuing to carry out its expansion plans. “We have hired 10 new engineers in the past two months and are looking for at least eight more for our Mt Wellington premises,” he says. “We are putting considerable emphasis on supporting our growth through enhanced processes and continual improvement.”

Rakon has also just opened a sales office based in the UK, with support from the NZ Trade and Enterprise Beachheads programme, aimed at developing Rakon’s business in the European region.

Rakon already maintains sales offices in Chicago and Taiwan.

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