Domino sales soar as business approaches pre-recession levels

In an interim statement this morning, the Cambridge-based firm said it had suffered “the worst extremes of the difficult market conditions that impacted global trading” in the same period last year.

However, Domino said the improving volumes since the middle of 2009 had continued into the new financial year and sales had grown by 19%.

New product sales increased by 31% and revenues from fluids and consumables rose by 22%. Service and spares sales grew by 7%

Asia has been the strongest area for growth but Europe and the US have also recorded improved revenues, Domino said. The firm expects to expand its sales force and increase staffing on new product development over the course of the year.

Chairman Peter Byrom said the group was well placed to respond to improving market conditions and the board was confident in the firm’s long-term prospects.

“While the year has started positively, the outlook for our markets remains uncertain. After the difficulties of the recent past we cannot predict with confidence how our global customers and suppliers will perform over the balance of the year,” he said.

Cost-cutting measures have helped improve profitability and its restructuring programme is almost complete.

Last month, Domino said it would be launching its first full-colour digital label press at Ipex in May.

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