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Sales Up at Barcode Printer Maker, Domino Printing Sciences
Domino Printing Sciences said sales in the ten months to the end of August were 4 per cent ahead of the same period last year.
In an interim management statement for the period from 1 November 2013 to the end of August 2014, the Cambridge-based barcode printer maker said underlying growth in the core business was 9 per cent and there was a 5 per cent adverse impact from foreign exchange movements.
Sales in Europe were 9 per cent ahead of the previous year in local currencies, the group said, adding that the "exceptional growth" in Europe in the first half of the year, which was a result of a number of large projects released by customers post-recession, has moderated to more normal levels.
Chairman Peter Byrom said: "We continue to make good progress in sales in North America and our business in Asia has maintained double digit growth in local currencies."
Equipment revenue growth in the ten months was 10 per cent while aftermarket revenue growth was 8 per cent.
Byrom added: "We are pleased with progress over the first ten months of the year and we remain confident of achieving results in the full year in line with our expectations. Momentum is building in our digital print business and we are continuing to invest in this and other areas of the group.
"As previously announced, we remain cautious about prospects for results in 2015. While we see momentum in sales for next year, a combination of the competitive pricing environment for new printer placements in developing markets and additional investment in R&D is expected to realise results at a broadly similar level to 2014.
"Opportunities for our business continue to develop, in particular in the application of digital printing technology. Our strong products and the investments we are making to develop our capabilities provide a basis for our optimism about the longer-term prospects for the group."
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