Domino plans for growth

Domino Printing Sciences, a global manufacturer of coders, lasers, printers and printing equipment, is planning to continue its growth, after its 33^rd consecutive year of increasing sales in 2011.

Sales were up five percent from last year, at a record 314.1 million pounds, while pre-tax profit was also a record 59.5 million pounds.

Operations in the developing markets of Europe, in the Middle East, Africa and Asia all reported strong growth. Despite good growth in the UK and Germany, sales in other parts of Europe and North America were below last year’s levels.

Looking to the future, Domino said it has plans to grow its operations in the emerging markets of India and China in order to match growing market requirements, as well as overhaul its UK operations.

Chairman Peter Byrom said: ‘I am pleased to report that the group has achieved record annual sales of 314.1 million pounds, an increase of five percent. Annual underlying pre-tax profits of 59.5 million pounds were also a record. Net cash flow from operating activities before taxation was 51.1 million pounds.

‘The group has maintained its strong investment in research and development at 15.3 million pounds, approximately five percent of sales. This has enabled the group to extend the range of new products announced last year and to progress plans for the rationalization of operating platforms. Investment has also been made in the development of the range of inks and other fluids available to customers to meet new requirements, to be more environmentally friendly and to meet the challenges of the cessation of manufacture of certain constituents. The group has also made an investment of 50 million US dollars in TEN Media to participate in the new opportunities for egg coding in the US.

‘The board has approved plans for the expansion of our manufacturing facilities in both China and India to meet growing market requirements. The manufacturing facilities in Cambridge, UK, are close to capacity and a planning application has been made to build a new factory adjacent the existing facility at Bar Hill. All these investments are expected to be met from the group’s own cash resources and existing debt facilities.

‘During the year the group recruited extra personnel, principally in the strongly-growing markets of Asia. The success of the group is a tribute to the endeavor of the 2,200 employees of the business in 17 countries.’

Byrom concluded: ‘The group is mindful of the effects on its markets of the general economic slowdown, as reflected in the changing pattern of sales in 2011, but the combination of new products and strong global reach mean we are well positioned to benefit from the available opportunities in this more uncertain climate.’

Pictured: The Domino head quarters in Cambridge, UK

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