LONDON Radstone Technology, the supplier of high-performance, embedded computer products for defence and aerospace applications raised turnover 14% to £49.9million for the year ended March 31, 2005. Group profit before tax, goodwill and exceptional items increased 15% to £8.5million while the order book ended the year at a record level of £86.5million. Radstone (Towcester, UK) has signed a $26.5m multi-year production order with Raytheon.
Jeff Perrin, Radstone's Chief Executive said, “The US defence market remains strong and its increasing investment in technology to achieve a complete network centric battlefield, with armed forces that are equipped for rapid deployment, will mean that Radstone is well placed to benefit from our customers' requirements for high performance embedded computing.
Sales in the Embedded Computing business were adversely affected by the weak US dollar and as a result the 14% increase in sales to £50m was mainly due to the additional deliveries from Octec (Bracknell, UK) acquired in July 2004 and a full year's contribution from ICS acquired in September 2003. Following a reorganisation of the EMS business its contribution to sales rose to 18.7% from 9.8%.
Over the past year the company has continued to invest resources in product development, which reached a record level of £6.1million (2004: £4.5million) equivalent to 12.2% (up from 10.3%) of turnover.