Profit surge boosts RCG
Biometrics and security solutions provider sees a 73 percent hike in profits during the first six months of 2008
Good news for RCG. It remains confident about the second half of 2008 as the biometrics and security solutions provider announced a 73 percent hike in profits during the first six months of 2008. Profit before tax jumped to £20.9 million from £12.1 million in 2007 on revenue 65 percent higher at £63.9 million thanks to a 61 percent surge in the consumer segment and 49 percent increase in enterprise. Turnover grew 69 percent in South East Asia, 133 percent in Greater China, and by 30 percent in the Middle East, but the firm said it is adopting a “cautious” approach in the implementation of its expansion plan into the United States due to the current economic slowdown. It is also looking at a potential listing in Hong Kong in addition to its existing quotes on the AIM and PLUS markets in London.
“The results for the first six months of this year reinforce our group’s fundamental strength of good product mix and a well established sales and distribution network,” said chairman Raymond Chu. “Looking forward, I am confident that the second half of 2008 will be another exciting and productive period.”
