Rakon gains 7.5% after return to profit on growth in its core markets

Wed, 16 May 2018

By Rebecca Howard May 17 (BusinessDesk) - Rakon shares gained 7.5 percent after the high-tech components maker returned to a full year profit, benefiting from growth in its core markets and some non-recurring gains. The Auckland-based company posted a profit of $10 million in the 12 months ended March 31 versus a loss of $13.6 million in the prior year. Underlying earnings before interest, taxes, depreciation and amortisation more than tripled to $12.1 million from $4.0 million and met guidance of between $10.7 million and $12.7 million...

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