The reports are in and makers are up. RPI posted “higher than expected” profits in its first earnings report. Via the Financial Times:
The company reported a gross profit of $34.2mn in the first six months of 2024, higher than internal forecasts and a 47 per cent increase on the same period in 2023. Revenue for the period was $144mn, up from $89.3mn last year. It kept its full-year outlook unchanged.
Founder Eben Upton is quoted:
“I have become more bullish since the IPO about the quality of the domestic investor base here,” he said. “Just because there aren’t a lot of companies like us listed in the UK, doesn’t mean they can’t understand what we do.”
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