50% profit hike for Andor

BELFAST-based specialist technology company Andor Technology has reported a 50% increase in pre-tax profits — to £7.1 million (€8.4m) — for the 12 months to the end of September.

Operating profit rose by the same percentage to £7m, adjusted earnings per share were up by 32% to 19.55p and the company’s turnover levels increased by 29% to £42.7m. The firm also said that it generated £6.6m in cash from continuing operations and was able to issue a record two month’s salary bonus to each of its employees.

During the year, Andor — which makes high-end industrial digital camera equipment for the scientific research market among other areas — raised, via a share placing, £3m in additional funds and upped its operational reach through two acquisitions, namely US-based high-tech company Photonic and Swiss-based specialist software provider, Bitplane.