Spectronic Denmark reports 90% revenue growth  

2008.06.20
Spectronic Denmark A/S, part of the international Cobham Avionics & Surveillance division, continues its rapid growth with a 90% increase in revenues in 2007
Spectronic Denmark A/S, part of the international Cobham Avionics & Surveillance division, continues its rapid growth with a 90% increase in revenues in 2007, writes financial daily newspaper Børsen. Spectronic develops and produces high-tech professional surveillance equipment for customers including law enforcement agencies and government intelligence agencies worldwide.
 
The company increased its gross profit by 39% in 2007 to DKK 82m (USD 17m), while operating profit was up 43% to DKK 33m (USD 6.9m). Spectronic has doubled its number of staff to 125 in just 12 months and expects to take on 20 more people before the end of 2008.
 
Spectronic MD Kim Lehmann says: "It is very positive news that both our business areas – electronic products for surveillance and software-based systems for surveillance – have grown by more than 20% for the first time."
 
Spectronic was founded in 1983 by Stig Bjerring and Peter Kristiansen. In November 2004, the company was sold to Britain's Cobham group for DKK 230m (USD 47.7m).
 
The company spends 15-20% of its revenues on product development, a relatively high figure compared to other technology-intensive SMEs. "We are today owned by a group which is very positive towards the assertive strategy we have prepared for product development." "Investment in development is vital for growth. We have a very strong pipeline with new products for launch in 2008 and 2009. They will accelerate growth from next year," says Lehmann.
 

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