Racal Electronics had 1.3 billion shares outstanding, which traded at 190 pence.

Racal Telecom had 1 billion shares outstanding (including the 80% owned by Racal Electronics)

and traded at 275 p. Analysts estimated the value of Racal Chubb Security in £400 million, before allocation of any debt. The net debt of Racal Electronics was £375 million.

This debt did not apply to the quoted Racal Telecom that had its own set of accounts.

In addition to its defense electronics business, the rump had won major contracts with the British government: the Government Data Network (GDN) service, which linked government departments, and the still-under-negotiation Government Telephone System

(GTS). While these businesses were potentially lucrative, the rump had been a cash user and would require significant capital investments and R&D in the future. GTS was expected to require an investment of about £200 million and would not become profitable before 1995. The rump attained operating income of £30 million on sales of £942 million during the fiscal year ended March 31, 1990. Profits were depressed because of development costs associated with new business, including the GDN.