{"id":123375,"date":"2021-11-24T20:47:51","date_gmt":"2021-11-24T20:47:51","guid":{"rendered":"https:\/\/fin2me.com\/?p=123375"},"modified":"2021-11-24T20:47:51","modified_gmt":"2021-11-24T20:47:51","slug":"rakon-triples-first-half-profit-confirms-bullish-full-year-guidance","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/rakon-triples-first-half-profit-confirms-bullish-full-year-guidance\/","title":{"rendered":"Rakon triples first-half profit, confirms bullish full-year guidance"},"content":{"rendered":"<p>Rakon has reported a first-half net profit of $18.9 million from last year&#8217;s $4.6m, and confirmed its twice-increased profit forecast of full-year operating earnings between $44m and $49m.<\/p>\n<h3>Read More<\/h3>\n<ul>\n<li>Rakon shares sharply rally after second earnings upgrade<\/li>\n<\/ul>\n<p> <span>The NZX-listed, Auckland-based maker of advanced frequency<\/span> <span>control and timing solutions used in smartphones, telecommunications gear and defence systems, reported underlying ebitda of $24.6m for the six months to September 30.<\/span><\/p>\n<p>Revenue increased to $85.4m, vs the $59.5m reported for the first half of FY2021.<\/p>\n<p>Managing director Brett Robinson said his company&#8217;s surging business was down to a boom in 5G and data centres, plus Rakon benefitting from the global chip shortage &#8211; which has some rival technology providers on the back foot and driven up prices.<\/p>\n<p>Output from the company&#8217;s New Zealand operation was at record levels, Robinson said.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.nzherald.co.nz\/resizer\/wfjOoy1qmfWCsd2DOTAbbbVEeig=\/16x17\/smart\/filters:quality(70)\/cloudfront-ap-southeast-2.images.arcpublishing.com\/nzme\/YC6YPZESR3TYFLU5GEJTSDQKHE.jpg\"><\/p>\n<p>Rakon shares closed yesterday at $1.80.<\/p>\n<p>The stock is up 344 per cent for the year, if still some distance from its 2000s heyday when it touched $5.<\/p>\n<p><i>&#8211; More to come<\/i><\/p>\n<p>Source: <a href=\"https:\/\/www.nzherald.co.nz\/business\/rakon-triples-first-half-profit-confirms-bullish-full-year-guidance\/ER7UPFKL35ERGCI3JANM73NDVI\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rakon has reported a first-half net profit of $18.9 million from last year&#8217;s $4.6m, and confirmed its twice-increased profit forecast of full-year operating earnings between [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":123374,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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