Defence tech company RADA has received £8m of new orders in last two months

RADA

RADA Electronics has today reported takings of $10 million (£7.8m) in new orders since mid-July.

The global company focuses on proprietary radar solutions and legacy avionics systems, providing critical infrastructure protection, border surveillance, active military protection and counter-drone applications.

The $10 million in the last two months makes for a yearly total so far of $59 million (£45.7 million) for the company.

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This is a significant increase over the $35 million (£27.1 million) received for the same period in 2019.

Of the new orders, 70% were for RADA’s growth-engine, software-defined tactical radars, for counter-UAV and counter-fires (C-RAM). Most of the new radar orders were follow-ons from existing customers.

Dov Sella, RADA CEO, commented: “We are very satisfied with the continuous growth of new orders. We expect that by year-end this sustained growth rate of new orders will establish significant backlog for 2021.

“While our radars’ business is growing at a significant rate, the repeated orders for avionics from our loyal customer base also ensure stability of this business of ours.

“We reiterate our expectations of sequential quarterly growth and growing operating profit throughout the remainder of 2020 and into 2021.”

Tags : RADA
Sam Lewis

The author Sam Lewis

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