Radstone raises 7m pounds
Wednesday 23 February 1994
The company forecasts profits before tax and exceptionals of pounds 1.5m in the year to 31 March 1994, up from pounds 1.2m on pounds 26m turnover last year.
Charles Paterson, managing director, said pressure on defence budgets meant prospects for sales of Radstone's standardised components to the military were good.
The directors are selling few of their shares and will continue to hold 6.1 per cent of the equity following the placing. The placing price implies a prospective price- earnings ratio of 15.8. Dealings are expected to begin on Monday.
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