Printable version
Email this to a Friend
Raymarine: buyout drops out
26 May 2008
The mystery bidder was widely believed to have been Garmin, but nobody from either side was in a position to confirm or deny anything to anyone.
On the news, Raymarine's shares, trading at 290p at the close of play on the Thursday evening, dropped to 208.5p, a fall of 28.1% and the company's biggest one-day drop in nine months.
At the AGM, chairman Peter Ward reported: 'During the first quarter of 2008, Raymarine's sales were marginally up on the same period in 2007. However, after adjusting for the effect of the acquisitions of distributorships and on a constant currency basis, underlying sales were slightly below those seen in the first quarter of 2007.'
He attributed the drop in sales to weak US sales, a slow start to the year in some European markets and delays in new product launches.
Images for this article - click to enlarge
Unless otherwise stated, all images copyright © Mercator Media 2008. This does not exclude the owner's assertion of copyright over the material.
Related products
For more information on products mentioned within this article visit
