City welcomes rise in turnover and profits at Domino
Domino Printing Sciences hoisted turnover 9 per cent to £100.1m and pre-tax profits 8 per cent to £14m for the six months to April 30 – and the market loved the news.
The share price rose 17.50p (6.81 per cent) to 274.5p.
Managing director Nigel Bond said the Cambridge company had made market share gains in continuous ink jet printing while recent acquisitions had contributed significantly to growth.
He said the company had seen strong sales growth across the Asia region and anticipated a robust second half.
Domino is determined to maintain the pace of its new product innovation. The company increased expenditure on R & D in the trading period, driving further new product releases, and plans more of the same.
Chairman Peter Byrom added: “We have produced a further six months of strong sales and profits growth from both our core businesses and all of our recent acquisitions.
“Equipment volumes in our coding and marking business units increased compared to the corresponding period last year and we achieved market share gains in continuous ink jet printing for primary product coding applications.
“We continue to maintain gross and net margins due to new product introductions, global material sourcing programmes and manufacturing productivity gains.
“We have invested further during the first half year in both our research and development capability and our Track and Trace business, the activities of which include the deployment of RFID.
“We are encouraged by progress and in the full year expect to spend the additional £2.5 million that we set aside at the start of the year for these activities.
“Demand for our products remains strong. We expect to enhance our product range further in the second half of the year. We are well placed in our markets and we look forward with confidence.”
In a separate announcement, Domino has served up the first ace at Wimbledon.
Domino’s A-series continuous ink jet printers have been taking centre court at label manufacturer Tipografic, to deliver a ‘Winbledon’ Text To Win promotional campaign for Britvic’s leading squash brand, Robinsons.
This is the first time a promotion of this kind has been printed on a sheet fed printing press in the UK using the Domino A400 and Editor GT controller.
The key to the success of the promotion, according to Domino, was to find a cost-effective solution that would both generate and manage 60 million unique codes and print them onto bottle labels of varying sizes, inline, within Tipografic’s existing label production line at its Birkenhead facility.