Rakon delivers strong core business growth

Global technology company Rakon (NZX: RAK) has reported strong core business growth and achieved all key milestones in its three-year growth plan for the twelve months ended 31 March 2023.

Revenue increased 5% to $180.3 million, with consistent growth across all core markets.

Underlying EBITDA was $42.2 million, within the guidance range of $40-44 million, and net profit after tax (NPAT) was $23.2 million.

The Board has declared a fully imputed FY23 dividend of 1.5 cents per share and will introduce a Dividend Reinvestment Plan.

Rakon has achieved significant milestones in FY23, including nearing completion of its India Manufacturing facility, increased presence in the Space and NewSpace ecosystem, and launching new XMEMS® nanotechnology frequency control products.

The company is actively seeking growth opportunities, including acquisitions, where it sees future value creation and alignment with its growth strategy.