Raspberry Pi post stronger than expected profits following flotation

Budget computer firm Raspberry Pi has revealed that profits were stronger than expected in its first update since floating on the London stock market earlier this year. Shares in the company, whose computers are made in Wales, swung higher in early trading as a result.

The Cambridge-based company raised £178.9m in an initial public offering (IPO) in June, in a major boost to the London Stock Exchange following a dearth of new listings over the past year. Earlier this week, the company was added to the FTSE 250 index.

The stock market debutante told shareholders that revenues jumped by 61% to £107.9m over the six months to June 30, compared with the same period a year earlier. It said it was aided by “strong uptake” of its Raspberry Pi5 product.

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