Positive results for Raymarine
Published Date:
18 August 2008
Boat firm Raymarine has managed to stave off the worst of the credit crunch, though it continues to threaten business.
The Portsmouth firm has announced a £100,000 drop in both revenues and profits in its interim accounts, which it blames on American and British customers spending less on boats.
Raymarine, which has headquarters in Robinson Way, Anchorage Park, Portsmouth, and engineering offices in Northarbour Road, Northarbour, Portsmouth, still has sales of £83.6m.
In the past year it has bought the Italian firm Deck Marine and the Finnish company NavSystems, as well as focusing more on markets in the Middle East and Asia.
Malcolm Miller, the chief executive officer, said: 'The board's expectation is that sales for the full year are likely to be ahead of 2007 with earnings in line with current market expectations and similar to those achieved last year.
'While the market has suffered a downturn in some regions, we continue to believe that boating will remain of interest to consumers around the world.'
The full article contains 173 words and appears in The News newspaper.
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Last Updated:
19 August 2008 7:19 AM
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Source:
The News
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Location:
Portsmouth
