UK’s DOMINO PRINTING RECORD PROFITS IN 06

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UK’s DOMINO PRINTING RECORD PROFITS IN 06

 user 2007-02-05 at 11:37:00 am Views: 54
  • #17567

    Domino Printing scores record sales, profits in 2006; eyes acquisitions
    Domino
    Printing Sciences plc , the ink jet and laser printing specialists, saw
    record profits and sales in the year to end October 2006.Sales grew 9%
    to £208.4m, while pre-tax profit was up 3% at £28.2m. Operating profit
    before was actually up 11% but the Group took a one-off charge of £1.8m
    reflecting costs for investigating an acquisition which it did not
    complete.The results encouraged the Cambridge-based firm to boost its
    dividend payout 20% to 8.21p a share.The stock market was impressed.
    Domino’s share price gained over 5%, or 16,75p to 344.5p by mid
    morning. The company is now valued at around £380m.The company said
    highlights for the year had been 15% growth in continuous ink jet
    printer volumes; strong performance from three further acquisitions
    during the year, and: a £2.6m boost to R&D spending that would fuel
    “a stream of new products in 2007 and beyond”.The company said the core
    businesses performed well achieving significant increases in volumes in
    competitive markets.In addition, Chairman Peter Byrom (pictured) said:
    “We entered the current year with strong order books and considerable
    interest in our wider range of products. The year has begun well and we
    look to the future with confidence.”We continue to seek acquisitions
    which will extend the range of products and services or enhance the
    technologies of existing products.”During the year the Group completed
    three acquisitions. Two of these extend the product ranges by offering
    Print and Apply Label Machinery, and Thermal Transfer Overlay printers.
    The third acquisition is of a company engaged in the integration of
    Track and Trace systems.

    Track and Trace
    Domino
    spent £1.4m internally building a business development team in Europe
    and North America to focus on the emerging opportunity in Track and
    Trace. Track and Trace refers to the increasing demands of
    manufacturers to not only mark their products with time, date and other
    information but also to locate and track those products as they move
    through the supply chain.During 2006, revenues from this activity were
    small but “we have developed a strong awareness of our capabilities
    amongst major potential customers and we expect to see revenues
    increasing during 2007 and beyond”, Mr Byrom said.He said the Silicon
    Fen firm’s business mix was continuing to change when viewed
    geographically. Its target industry sectors and customers are growing
    strongly in Asia and Eastern Europe and are more stable, even starting
    to decline slightly in some Western European countries and North
    America.This trend was reflected in the results and he said it guides
    investment decisions on additional sales and service personnel and new
    products.”We expect this trend to continue during 2007 and beyond”, he
    said.