Rakon shares jump 20% on prospect of return to profitability

Mon, 14 Aug 2017

By Paul McBeth Aug. 14 (BusinessDesk) - Rakon shares jumped 20 percent after the company said it anticipates a return to profit in the current financial year as new space and defence customers and recovering demand among telecommunications company's bolsters the components maker's revenue. The Auckland-based company predicts a positive net profit in the year ending March 31, 2018 with underlying earnings before interest, tax, depreciation and amortisation of between $9 million and $11 million, it said in a statement. That compares to a l...

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