Innovation helping Andor stay in the picture
A maker of digital cameras which is one of Northern Ireland's few listed companies said its capacity for innovation is off-setting the challenging global economic climate.
AIM-listed Andor, which is based in Springvale in west Belfast, said trading was in line with expectations as it gave an update for the first six months of its financial year. The company employs around 300 people making specialised digital cameras for academia, industry and government.
Yesterday's update revealed that Asia Pacific was delivering 'strong growth' in order intake and sales.
But the board reiterated that American orders had been weaker than expected in the tail end of last year. "While this situation improved in the second quarter we still expect the order intake from this region for the first half to be slightly down on the same period last year".
Andor also said it had set out to increase operate margins by making higher-premium products and maintaining a deep commercial focus.
Three new camera products had been released along with components in its systems division and new releases in software.
"Our ability to transition new product smoothly from engineering to operations is pleasing and all of these products are already offered on standard lead-times."
But Andor said the economic climate was still challenging.
"The impact of this is longer purchasing cycles in the research community and reduced stock holding."