Despite a flat UK market, Domino Printing Sciences Plc has flourished over the past six months to come in with pre-tax profits up 32% to UKP4.5m on revenue up 15% to UKP31m. The reason for this prosperity in the teeth of adversity is simple: selling overseas. In the rest of Europe, revenue has grown by 16% to UKP15m as business in Germany, France, Spain and Italy has continued to be encouraging, despite the reduced level of legislation-driven demand. In the US revenues have grown by 23% (31% adjusted for exchange rates) to UKP7.4m mainly from further commercial printing installations. To date some of the proceeds from the rights issue – the company set out to raise UKP15m last September (CI No 1,767) – have gone into the development of Domino’s German business where the company’s new facility is nearly finished. Money has also gone into setting up support offices in Singapore and Dubai – revenues from the rest of the world grew by 28% to UKP3.3m in the six months. Money also continues to be invested in the PackTrack mimeographic product range. So far 10 installations have been made, with five of those occurring in the past six months. This business in which Domino acquired a 51% stake last July (CI No 1,727) is expected to become profitable in 1993 and is now wholly owned by Domino Printing which has bought the 49% minority interest in Domino PackTrack at nominal value, replacing the deferred consideration arrangements with a sales related incentive contract. As for the outlook, chairman Gerald Dennis expects continued growth as the order book is strong and both assembly plants are working extra hours. Meanwhile, Domino is still looking for acquisitions.
