Against the backdrop of a continuing tough economic environment Domino Printing Sciences has delivered sales of £312.1 million, underlying profits of £53.7 million and net cash inflow from operating activities before tax of £56.4 million.
The company has invested a record amount in Research and Development in the year and continues to pursue a strategy of product leadership. We are very pleased with early sales of the new digital label press and our acquisitions of Graph-Tech and PostJet have added significant capability to our digital print business.
Peter Byrom, Chairman, commented “Against the backdrop of a continuing tough economic environment the Group has delivered sales of £312.1 million, underlying profits of £53.7 million and net cash inflow from operating activities before tax of £56.4 million. The Board has declared an increase in the annual dividend of 10 per cent.
“Our businesses in the USA, most of Asia, the Middle East and Africa have all made good progress but in parts of Europe and in China sales were below last year. Market conditions have been more difficult and we continue to see extended sales cycles for equipment. The after market business has continued to perform robustly and while capital spend among customers is reduced compared to last year, consumable sales grew by 6 per cent, in line with our expectations.
