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Electronics Production | June 26, 2008

Raymarine sees market increase by 2010

The CEO of Raymarine sees the global market for electronic products for leisure marine increase by the end of next year.
The $1.3 billion global market is expected to pick up again by the end of 2009. The company is set to keep its annual R&D spending of $29.5 million, reports Reuters.

The financial report for the fiscal year 2007 reported £140.7m (2006: £136.5m) a nominal increase of 3.1%. Adjusted profit before tax was £26.9m (2006: £22.6m) an increase of 18.8%. The statutory profit before tax was £23.4m (2006: £14.1m) an increase of 66.1%. Profits were charged to tax at an adjusted underlying rate of 25.1% (2006: 26.8%). Adjusted basic earnings per share were 24.5p (2006: 20.0p) an increase of 22.5%.

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