Digital camera maker Andor enjoys record number of orders
Published 24/02/2011 | 08:00
A digital camera maker in Belfast has boasted of a record order book in its latest trading update.
Andor Technology plc, one of Northern Ireland's few listed companies, said trading had been strong in the first four months of this financial year, with all regions showing growth.
The west Belfast-based firm started life as a campus spin-off in 1989 and makes scientific digital cameras for academia, industry and government.
As the AIM-listed company held a capital markets day in Belfast, it revealed the progress of developing a new mid-range camera called the Neo was "in line with management expectations" with tests being carried out to see how many could be produced.
"We are pleased to report that nothing significant has been encountered to date and that the manufacturing capacity is in place to meet growing market demand.
"We expect to be at full production volumes early in the second half of this financial year."
But Andor said that as a global firm it remained exposed to temperamental currency markets particularly after buying Swiss firm Bitplane in December 2009.
The company added that the earn-out for Bitplane had been agreed, with additional consideration of nearly £290,000 due to be paid.
The update concluded: "While we remain cautious in relation to currency volatility, the board is confident that it is on track to meet market expectations for the current financial year."
Andor will hold an AGM at its premises in Springvale Business Park in Belfast on March 22.
Last month the firm won the international business category in the regional stage of the Ulster Bank Business Achievers Awards in association with the Belfast Telegraph, Invest NI and InterTradeIreland.