A preliminary financial statement released by Domino Printing Sciences shows that the company has made an underlying pre-tax profit of £57.6 million, up 9% from 2013.
Peter Byrom, chairman, commented, ‘The Group has made good progress in growing sales, profits and cash during the year while continuing to develop new products and investing in further expanding our digital printing business. Underlying pre-tax profits increased by 9% to £57.6 million and net cash inflow from operating activities before tax was £65.8 million. The Board has declared an increase in the annual dividend of 5%.
‘Our business in Europe reported double-digit sales growth in local terms, benefiting from more buoyant markets in the early part of the year. We also reported good growth in the Americas and Asia. Market conditions have been changeable with a more cautious attitude returning among customers in many markets over the second half of our year.’
Another point of interest in the statement came from the figures released for research and development, which show that investment in this area fell by 7% from last year.
Mr Byrom added, ‘The Group has had a good year and delivered results in line with our expectations. We continue to invest in research and development and in growing the capability and capacity of our digital printing business. However, we remain cautious about 2015. As announced in our interim statement, the investments we are making, coupled with uncertain market conditions, mean we expect results in 2015 to be at a broadly similar level to this year.’
