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Raymarine reports strong growth
01 Mar 2006
Raymarine has reported a strong earnings growth in its preliminary results for the year ended December 31, 2005.
Miller: in line with expectations
Sales increased by 14.7% to £121.9m and profits before tax were up by 53% to £8.1m.
With a launch of 12 new products in 2005, outsourcing remained on track and within budget, reducing net debt with £6.4m to £38.4m.
"The outsourcing project, which is approximately one third complete, continues on track, " said Malcolm Miller, Raymarine CEO. "The current year has started encouragingly and trading is in line with expectations."
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