Wednesday 19 November 2008 - Comprehensive international distribution and an extensive product offering have enabled Raymarine to maintain group sales of £115.3m for the ten months ended 26 October 2008 (2007; £117.4m).
These strong sales figures, against a challenging economic background, reflect the continuing popularity of Raymarine’s products, such as the top of the range G Series, combined with a number of new company introductions this year including the recently launched A Series multifunction display range, designed specifically for the smaller boat and aftermarket, new generation course computers and SuperHD Digital radar.
Acknowledging the effects of the global downturn, Raymarine has already taken steps to conserve cash and defend profits. The company is implementing a planned programme of cost reductions across the business, leading to substantial annualised savings going forward, enabling it to maintain its prominent position in the market place.
Tony Osbaldiston, Finance Director at Raymarine, said, “These figures are in line with our trading expectations as outlined in our last trading update in October. The economic outlook for 2009 remains uncertain which is why we have taken sensible steps now to reduce costs going forward. The company has a robust programme of new product launches in place for 2009 and beyond which will appeal to boat owners whether new buyers or those looking to benefit from the significant moves in technology migration.”
For further information contact Fiona Pankhurst, Head of Corporate Marketing & PR, +44 (0)23 9269 3611 x1093 or by email at fiona.pankhurst@raymarine.com or Alice Driscoll at ADPR, Tel +44 (0)1460 241641 or Fax +44 (0)1460 242719 or by email at alice@adpr.co.uk.
This text can be downloaded from www.adpr.co.uk. For high res images: Please contact Niki Wallis-Guy at Raymarine (023 9269 3611 x1435 - niki.wallis-guy@raymarine.com) for a password to Raymarine's Asset Management System (AMS). This provides access to all Raymarine images and product data.
November 2008 (RM554)
