Operating profit was £13.9m, also increasing nine per cent up from £12.8m, while pre-tax profit was £14.0m, representing an eight per cent increase in the six month period.
Peter Byrom, chairman of Domino, says, the positive results reflect a number of company initiatives – namely, strong sales growth in Asia and continued growth of the company’s acquisitions.
“Demand for our products remains strongest in China and India,” he says. “The A-Series continuous ink jet printer range continues to lead the market, and volumes from our recent acquisition Citronix, grew compared to the corresponding period last year, resulting in a gain in global market share,” says Byrom.
According to Byrom the company’s continued commitment to research and development and the release of new products, is a key factor in the positive half yearly sales figures.
“We increased research and development expenditure in the first half to £5.2m from £4.9m, as we invested further in new products and technology to extend our market leadership position,” he says.
“We launched a number of new products in the first half year and have some significant additional launches planned for the second half to enhance both our inkjet and laser product ranges,” says Byrom.
Of the nine per cent increase in sales achieved by the company, four per cent is attributable to favourable movements in exchange rates and two per cent to the impact of Citronix – which Domino acquired in July 2005.
The company’s recent acquisition of Texas-based Enterprise Information Systems, Inc. (EIS) – a company specialising in the integration of printer, tagging and reader technologies – has also lead to the positive results for the company.
“We have invested further during the first half year in both our research and development capability and our Track and Trace business,” says Byrom. “Our acquisition of Enterprise Information Systems provides us a platform for accelerated growth,” he says.
Domino Printing Sciences is headquartered in Cambridge, UK, and is a world-leader in inkjet and laser technologies offering a comprehensive range of coding and printing solutions.
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