Northern Ireland high-tech camera maker Andor posts £12.7m profit as sales rise 16%
Belfast specialist camera maker Andor has seen pre-tax profits surge by 15% to £12.7m.
The firm, which is now part of listed company Oxford Instruments plc, makes scientific imaging cameras, spectroscopy solutions and microscopy systems.
In the year to March 31 sales at the company also increased by almost 16% from £59.8m to £69.2m.
Andor Technology, which started out as a spin-out from Queen's University and is now based at Springvale Business Park in west Belfast, has been involved in the photonics industry for over 20 years and is expert in solutions which allow consumers to perform light measurements previously considered impossible.
The company's products have applications for forensic science and astronomy.
Breaking down its sales, the largest market was the Americas, posting £27.9m.
That was followed by the Asia-Pacific, with £23.4m.
The remaining sales were spread across the UK and the rest of Europe, the Middle East and Africa.
The firm's products are used in a wide range of applications including medical research to further the understanding of heart disease, cancer and neuronal diseases such as Alzheimer's and Parkinson's.
According to the latest accounts, the firm employed an average of 287 workers during the course of the year, up from 284 a year earlier.
That was spread across production, research and development, administration, sales and marketing.
Outside Northern Ireland it has branches in the US and Japan.
During the course of the year the company spent £5.8m on research and development. That was up from £4.2m a year earlier.
Andor was a publicly-listed company in its own right before the takeover by Oxford Instruments in 2014. It was founded by Dr Hugh Cormican, Dr Donal Denvir and Mike Pringle.
In November another firm set up by Dr Cormican, Cirdan, landed a £1m deal to sell its products into Australia. The Lisburn-based company specialises in medical devices and software for surgery and cancer diagnosis.
The deal with Northern Health in Melbourne is for the provision and installation of an information system that records, manages and tracks patient data for clinical laboratories.
Earlier in the year the firm revealed it would create 46 jobs and carry out a multimillion-pound research and development project as it responds to changes in healthcare.
The company is investing in future growth in the precision medicine market.