Higher R&D investment holds back Domino Printing's full-year profit
Dec 12 (Reuters) - Barcode-printer maker Domino Printing Sciences Plc reported a marginal fall in full-year underlying profit due to increased investment in its digital printing business and research and development.
The company, which makes printers to stamp barcodes and expiry dates on food items, beverage cans, medicines, and other products, said it was optimistic about entering 2014 with a more positive economic outlook than in the past two years.
Underlying profit before tax fell slightly to 53 million pounds ($86.75 million) for the year ended Oct. 31 from 53.7 million pounds a year earlier.
Revenue rose 8 percent to 335.7 million pounds, helped by new products and growth in businesses in the United States, Germany and China.
Investment in research and development increased to 19.5 million pounds from 16.7 million pounds in 2012.
Domino Printing shares closed at 710 pence on Wednesday on the London Stock Exchange.