Raspberry Pi, the UK-based maker of affordable microcomputers, has reported stronger-than-expected profits in its first financial update since going public on the London Stock Exchange in June.
The company, which raised £178.9 million through its initial public offering and joined the FTSE 250, saw year-on-year sales jump 61% to $144 million in the six months to June 30, while pre-tax profit remained steady at £10.8 million.
The company’s shares surged by more than 10% on Tuesday, settling up 6.6% at 371¼p. Raspberry Pi sold 1.1 million units of its latest model, the Raspberry Pi 5, launched in October 2023, contributing significantly to its first-half performance, which surpassed internal expectations.
Despite the recovery from pandemic-induced supply chain disruptions, Raspberry Pi continues to experience some challenges, particularly with semiconductor supply. CEO Eben Upton explained that lingering demand imbalances, caused by over-ordering during shortages, are slowly correcting.
Analysts at Jefferies noted that while the second half might be slightly weaker due to ongoing inventory corrections and lower-value product sales, the outlook for 2025 remains positive, with favourable memory pricing and higher sales expected.
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