Domino Printing remains cautious about market conditions
(Reuters) - Barcode-printer maker Domino Printing Sciences Plc (DOPR.L) said it remains cautious about market conditions in general, but expects to maintain current growth levels for the year as a whole.
"There is little evidence that more positive economic news reported recently is yet having an impact on the confidence of our customers or their investment plans," the company said in a statement. (link.reuters.com/ryp23v)
Domino Printing, which makes printers to stamp barcodes and expiry dates on food, beverage cans and other products, said it was seeing signs of possible deterioration and lower investment in capital equipment in India.
Sales in the 10 months to August rose 7 percent, propped by growth in its U.S. business. Growth in Europe, which accounts for 41 percent of overall revenue, was in the low single digits, as market conditions remained difficult in the region, the company said.
"In Europe, talk about stabilising economies, or in case of UK and in Germany, some improvement is quite recent news. And I would not expect it to reflect in anything that the company has seen yet," Investec analyst Michael Blogg told Reuters.
Shares in the company were trading down 2 percent at 658 pence at 0849 GMT on the London Stock Exchange.
(Corrects brokerage name to 'Investec' from 'Jefferies' in paragraph 5.)
(Reporting by Tasim Zahid in Bangalore; Editing by Supriya Kurane)