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RTS reports loss after packaging problemsliz.wells@haymarket.com, 26 March 2008Be the first to comment on this article 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. Speak Your Mind |
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