Boost for employees after scientific camera maker's success
A Belfast-based firm which makes cameras for both the scientific and medical sectors has said that it now intends to introduce a dividend scheme for its workers following a successful year of trading.
However, Andor said that systems sales are expected to show a 15% decline for the full year, following exceptional growth of 109% in the previous year, which it says is characteristic of a market where high order value and timing of sales can sometimes deliver inconsistent year-on-year results.
In June the company reported that a slowdown in orders placed by two US customers would contribute to lower than expected sales in the second half of the financial year. However, it has now been reported that the larger customer has placed new orders in the period of over £2m, deliverable during the financial year ending September 30, 2013, with further orders expected.
Research sales are expected to grow by 7%, despite general concerns regarding public funding.
This is indicative of Andor's strong market position and innovative product portfolio.
The board also intends to recommend the payment of a final dividend in respect of the year ending September 30 2012 of at least two pence per share at the next annual general meeting of the company in February 2013.