Core business growth drives strong Rakon half-year result

Rakon (NZX.RAK) today announced a strong result for the six months to 30 September 2022, with core business revenue growth, management of costs and margins, and foreign exchange gains driving a 6% increase in Underlying EBITDA.

Gross profit remained steady at $43.5 million, with a gross margin percentage of 50%.

Net profit after tax fell 15% to $16.0 million due to a higher taxation expense.

Rakon's board has updated guidance for Underlying EBITDA to be in the range of $38 million to $44 million for the financial year to 31 March 2023.