Andor reports 67pc rise in pre-tax profits


24 Nov 2009

Share on FacebookTweet about this on TwitterShare on LinkedInShare on Google+Pin on PinterestShare on RedditEmail this to someone

Share on FacebookTweet about this on TwitterShare on LinkedInShare on Google+Pin on PinterestShare on RedditEmail this to someone

Belfast technology company Andor Technology has reported a 67pc rise in pre-tax profits to £3.5 million for the year-ended 30 September. This is compared to pre-tax profit of £2.1 million reported in 2008.

Operating profit at Andor, which develops and makes high-performance digital cameras, was up 63pc to £3.4 million, compared to the £2.1 million the firm reported in 2008.

Earnings per share was up 79pc to 11.57 pence, compared to 2008’s reported EPS of 6.45 pence.

The company also reported a 30pc year-on-year growth in its opening order book for 2010, and continued growth in China.

“Andor has charted a path through the uncertainty of the past 12 months and delivered a strong set of results,” said Andor Chief Executive Conor Walsh.

“As we look forward to 2010 we remain cautious about the economic outlook, the exposure we have as a global business to currency volatility, and the ever-increasing competition for business. But we are also optimistic, buoyed by the strength of our brand and our business, the technology we offer and will deliver over the coming year, and most of all the skill and diligence of our staff.”

Article courtesy of businessandleadership.com