Product category:
Coding and Marking Systems
News Release from: Domino Printing Sciences plc
Edited by the Printingtalk Editorial
Team on 13 December 2007
Domino's Profits Up 12% As Sales Revenue
Grows
Domino Printing Sciences' annual pre-tax profits have risen by 12 per cent to GBP 31.8 million for the year ended 31 October, up from GBP28.0m in 2006.
Revenue at GBP231.5m also increased, up from GBP208.4m (11 per cent) in 2006, whilst operating profit grew by 12 per cent to GBP31.5m (GBO28.0m in 2006) Domino said that sales revenue grew by 14 per cent at constant exchange rates, whilst printer volumes were up by 20 per cent
This article was originally published on Printingtalk on 26 Feb 2003 at 8.00am (UK)
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The company added that growth was spread across all geographical regions and the demand for its Plus range of products was strong.
Peter Byrom, Domino's chairman, commented: "The 12 months to 31 October 2007 have produced another record year of sales and profits for the group and further market share gains.
The movement in exchange rates has once again adversely impacted the translation of our results but revenue growth at constant rates was 14 per cent.
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Reported underlying operating profits increased by seven per cent to GBP32.2 million after absorbing GBP1.5 million of adverse currency movements." He continued: "We have increased our expenditure on research and development by four per cent to GBP11.3 million.
The new Plus range of products, launched at the beginning of the year, has been well received by our customers and demand remains strong.
We have continued with our investment programme in the emerging track and trace opportunity and we had satisfactory growth in revenues during the year from this business." And he explained: "We made two further strategic acquisitions in the year.
Collectively, the acquisitions that we have made over the last four years continue to perform well and meet expectations.
To capitalise on the opportunities afforded by this substantial expansion in our product range we have invested in additional sales, marketing and support resources." Byrom commented that Domino has a strong global business with a sales and service network serving customers worldwide that are spread across multiple market sectors.
He added that the company has a large base of installed printers using its fluids, spare parts and services.
He explained: "Legislation mandates and standards, which demand identification of products, drive demand for our printers and services.
Whilst we will not be immune from slowing economic growth rates amongst major world economies and the impact this may have on our customers' investment plans and production outputs, the fundamental strength and diversity of our business gives us confidence about the future." Byrom believed that the business was well positioned for further growth.
The core product range has been refreshed and enhanced and legislation and activity levels support the continuing growth of Domino's Integrated Solutions business.
He added: "Our Palm and TTO businesses are expected to contribute positively to profits in 2008.
We have good order books going in to the New Year.".
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