Domino Printing says sales up as expected; strong in Asia, Europe 'more difficult'
Domino Printing Sciences plc (DNO.L) chairman Peter Byrom told the company's AGM today that trading in the first four months of the financial year was in line with the board's expectations.
"We continue to have strong demand for our products. Unit sales are well ahead of the comparative period last year and, as expected, we continue to experience price erosion in certain sectors", Mr Byrom (pictured) said.
Domino develops ink jets, one of the original world-beating technologies that kick started the Cambridge high tech cluster, and laser technologies that enable coding and printing solutions. Variable data such as bar codes and traceability codes are printed onto products in industries such as food, beverage and pharmaceutical.
"So far 2006 has seen good market conditions in Asia. Trading in Western Europe has been more difficult. Our recent acquisitions continue to perform well and are contributing positively to the results of the Group.
"We have increased our investment in new product development in 2006 and are positioned to launch a number of new products in the coming months. We are also investing in our capability to provide total product traceability systems to our customers."
The stock market view of Domino is that it is well managed by a conservative group of executives. Its shares were marginally up (by 0.25p) on the news to 268.50p, which values Domino at £296m. It is trading about the mid point of its range over the past 12 months.
23rd March 2006
