Rakon Limited (NZX: RAK), a high technology manufacturer of frequency control and timing solutions, released an update on its full-year FY23 EBITDA guidance on 7 March 2023, increasing its forecast range to $40-44 million.
Chief Executive Dr Sinan Altug attributed this to continued growth in global demand for Rakon's industry-leading products, and noted that headwinds from macroeconomic volatility and cost inflation will continue into the first half of FY24.
To mitigate these impacts, the company has optimised its resources and is focusing on creating innovative products and accelerating its acquisition strategy.
Rakon's new manufacturing facility in Bengaluru, India, is on schedule to open in mid-2023.
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