Andor Technology pretax profits rise 65%

Northern ireland-based camera manufacturer Andor Technology said pretax profit before exceptionals rose 65 per cent to £2

Northern ireland-based camera manufacturer Andor Technology said pretax profit before exceptionals rose 65 per cent to £2.11 million sterling (€2.61million) in the year to the end of September.

Turnover was up over 16 per cent at £24.7 million while earnings per share grew 47 per cent to 6.45 pence, the company said in a statement today.

Conor Walsh, Andor Chief Executive said over the last year the company had reduced its exposure to single markets over the last 12 months.

"Today we report revenue growth of 16 per cent and an increase in pre-exceptional profit before tax of 65 per cent . Perhaps most encouraging is that many of the initiatives begun during 2008 are yet to deliver and this, together with a record order book, gives us confidence looking forward,” he said.

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Andor said the strongest growth region was in Europe with sales up 25.5 per cent year on year. A management-led bid to take the company private was rejected by the company's shareholders at an egm last month.

David Labanyi

David Labanyi

David Labanyi is the Head of Audience with The Irish Times