Profits slump at Radamec to ?454,000

Profits slump at Radamec to ?454,000
Alex Mayhew-Smith Robotic controls and defence systems firm Radamec has reported a massive fall in pre-tax profits to under ?500,000 for 1998. The firm reported sales of ?15.1m, compared to ?14.2m in 1997, and a pre-tax profit of ?454,000 compared to a profit of ?1.3m in the previous year. The reduction reflected margin pressures and R&D costs from entering the defence market, said the firm. “Radamec Defence Systems’ business suffered from particularly harsh margin pressures and from more delays and deferments to defence programmes,” said Radamec, which added it had not lost any major defence business it had competed for. Radamec’s broadcast systems division, which makes robotic controls for cameras, held up well, said the firm. The division’s virtual studio product doubled its sales on 1997.


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