RC Fornax has made good progress since it was set up in 2020 and the outlook for defence spending means that there are strong prospects for the business. Annual UK defence spending is £54bn and increasing. There are also opportunities outside of the UK.
Revenues and margins are improving, and the company has gained 22 mandates so far in this financial year. Interim revenues of £3.8m are expected and £3m of that has already been invoiced. There could be at least £5.8m generated in the second half.
There were 159,000 shares traded on the first day and the share price ended at 34.5p. By th...
