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Rakon releases annual report

Wednesday 5th July 2006

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The report covers the year ended March 31, prior to the company's May 16 listing on the New Zealand Stock Exchange.

The first announcement of its performance since listing will be the half-yearly results at the end of November. An update of the business will be given to shareholders at the (first) annual shareholders meeting in September.

Rakon's Managing Director, Brent Robinson, says the company is continuing to carry out its expansion plans. "We have hired 10 new engineers in the past two months and are looking for at least eight more for our Mt Wellington premises," he says. "We are putting considerable emphasis on supporting our growth through enhanced processes and continual improvement."

Rakon has also just opened a sales office based in the UK, with support from the NZ Trade and Enterprise Beachheads programme, aimed at developing Rakon's business in the European region.

Rakon already maintains sales offices in Chicago and Taiwan.

Rakon is currently trading at $2.85.

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