Andor Technology posts record pretax profits of £10m

Andor Technology, the Belfast company that manufactures high performance digital cameras, has reported record pretax profits of £10 million.

One of Northern Ireland’s three listed companies, Andor’s success came despite a shock profit warning in June.

Revenue rose by 2 per cent to £58.3 million for the 12 months to September.

Conor Walsh, Andor’s chief executive, said the west Belfast based company remained a “high growth business”.

Sales fell by 11 per cent last year in its American markets and by 2 per cent in Europe, the Middle East and Africa market sector. But a 32 per cent increase in Asia Pacific market turnover to £16.1 million helped to more than offset the downturn elsewhere.

The company has recommended an inaugural dividend of 2p per share and will propose this at the annual shareholders’ meeting in February.