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May 6, 1994

RADAMEC 1993 PROFITS FALL 14%, BUT THE COMPANY SAYS PROSPECTS ARE GOOD

By CBR Staff Writer

Electronics and defence group Radamec Group Plc showed a drop in pre-tax profits of 14% in the year ending December 31. But chairman and chief executive L B Whittaker says that despite the volatility of the defence market, prospects look good. During 1993, the company’s Defence Systems Ltd unit maintained its previous level of turnover, although margins were squeezed. But, said Whittaker, Radamec was currently bidding for more than ?50m worth of business and expected firm contracts soon. Radamec EPO Ltd continued successful in the television studio business, increasing its market share in Germany and the US. Prospects for Radamec Microsystems, which supplies surface mount hybrid circuits and printed circuit boards, also look good, said Whittaker. At the pre-tax level, profit for the year was ?710,000, slightly down on last year’s ?832,000. Gearing increased slightly to 24% on net borrowing of ?1.24m. The final recommended dividend is increased slightly to 1.2 pence from a penny, giving a total of 1.7 pence for the year.

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