News

Robotic Technology Systems (RTS), the automated packing systems provider, has reported a pre-tax loss of £3.9m for the year to 31 December 2007 after its Flexible Systems business lost key orders and suffered reduced margins on several orders.

The company's revenue also fell by 28% to £11.2m, compared with £15.5m in 2006. It made an operating loss of £2m, compared with £1.6m in 2006.

RTS said Flexible Systems' sales fell to £3.8m in 2007, compared with £5.4m in 2006.

However, RTS said Flexible Systems secured some important orders within the UK bakery market in the year, including a contract to develop flexible end-of-line bread packaging automation systems.

Chairman Chris Brown said: "Flexible Systems enters 2008 with a higher order book and stronger prospect list than 2007, including lower-risk repeat orders. We therefore anticipate a return to profitability driven by sales growth."

RTS' share price rose 0.88p to 8.75p following the news. RTS Flexible Systems last week announced plans to expand in Europe through a new office in Germany.