News blog
Sarantel Group
- BY: Andrew Hore |
- POSTED: 12/06/2012 |
Miniature antenna manufacturer Sarantel Group says that military orders are starting to flow through.
However revenues dipped from £1.03m to £888,000 in the six months to March 2012 but this fall was due to lower development revenues. Gross margins from product sales improved. R&D costs rose from £603,000 to £665,000 and the loss increased from £1.69m to £1.74m.
Sarantel has £262,000 in the bank offset by invoice finance of £108,000. It has also drawn down £700,000 of the HSBC loan facility.
Volume production has begun on a new antenna for the military market. A big order was won earlier this year and the order book is worth £2m.
The Sarantel share price fell 0.025p to 0.46p, valuing the company at £3.82m.
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