Israeli weapons and defence electronics manufacturer Rafael Advanced Defense Systems recorded a new high in its annual sales in 2018, according to financial results published on 1 April. The company generated revenues of ILS9,319 million (USD2,568 million), a rise of 14.6% compared with the previous year's sales.
Net profits also increased to ILS479 million, a rise of 7.4% year on year. Although order intake fell slightly to ILS9,488 million, total order backlog rose to ILS25,411 million.
President and CEO of Rafael Major General (retd) Yoav Har-Even said, "In the past year we have made breakthroughs both in technological achievements and in marketing performance.
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