24 percent growth in Colortrac SmartLF large format scanner sales
Colortrac has achieved record unit sales, revenue and profit in the financial year ending 30 April 2010. Not including new business from OEM agreements, worldwide unit sales of Colortrac brand SmartLF large format scanners increased by 24% over the previous year. Colortrac’s consolidated result (unaudited) shows that group revenues increased by 42% to £7.3 million, with a corresponding increase in pre-tax profits of 66%.
Expanding on the implications of the financial performance, Colortrac managing director Graham Tinn said: “Clearly the worldwide economic downturn has had an impact on the performance of many markets over the past two years. However, our long-term investments, both in competitive manufacturing at our factory at Suzhou, China and in our technology developments, are now providing us with greater capacity to react to our customers’ requirements in product quality, performance, functionality and value. These financial results and the growth in market share are a strong validation of our strategic product and business direction. It is providing a profitable base from which to continue our market expansion.”
Tinn added: "I am delighted that our customers have seen the long term benefits of the quality, innovation and creative thinking we put into the SmartLF wide format scanners that we produce. We have a rapidly increasing order book which, combined with planned new product introductions, should provide us with continuing profitable growth in our business when others are clearly losing market share.”