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Domino Printing profit falls; cautions on 2013 market conditions
December 11, 2012 / 7:40 AM / 5 years ago

Domino Printing profit falls; cautions on 2013 market conditions

Dec 11 (Reuters) - Barcode-printer maker Domino Printing Sciences Plc reported a 10 percent fall in full-year profit as customers cut down on investment in new capacity amid economic uncertainty in Europe, and said it was cautious about market conditions heading into 2013.

“We leave 2012 as we entered it, with a combination of uncertainty and instability in world economies,” the company said in a statement. “We remain cautious about market conditions and their impact on the investment plans of our customers.”

For the year ended Oct. 31, the company reported a pretax profit of 53.7 million pounds (about $86 million) on an underlying basis, down from 59.5 million pounds last year.

Sales fell 1 percent to 312.1 million pounds, with sales in China and Western Europe dropping below levels reported last year.

The company had said in March that it was unlikely to see any sales growth this year due to tough market conditions in Europe and fewer large orders from China.

Shares in the company, which have shed 8 percent since the March announcement, closed at 610 pence on the London Stock Exchange on Monday.

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