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Domino Printing profit falls
Barcode-printer maker Domino Printing Sciences Plc reported a 9 percent fall in first-half profit, as the fallout from the debt crisis in Europe prompted customers to delay orders, and the company said sales for the year would be similar to those achieved last year.
"There is general uncertainty about global economic conditions and we remain cautious about immediate prospects for market recovery," Chairman Peter Byrom said in a statement.
In March this year, the company — which reported sales of 314.1 million pounds for 2011 — had said it was unlikely to see any sales growth this year due to tough market conditions in Europe and fewer large orders from China.
For the six months ended April 30, Domino Printing reported an underlying pretax profit of 24.7 million pounds ($38.43 million) down from 27.1 million pounds, last year.
Sales at the company, which makes printers to stamp barcodes and expiry dates on food, beverages and other products, fell 3 percent to 151.1 million pounds.
New equipment revenue fell 4 percent reflecting the delays in investment decisions by some of the company’s customers in the face of economic uncertainty.
Domino shares, which have shed 23 percent since March when the company warned on profits, closed at 509 pence on Monday on the London Stock Exchange.
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