Andor Technology sees strong sales boost

Posted on 01 Feb 2018 and read 481 times
Andor Technology sees strong sales boostWest Belfast-based Andor Technology (www.andor.com) — a world leader in the design and manufacture of high-performance scientific imaging cameras, plus microscopy and spectroscopy systems — achieved a 15% increase in its pre-tax profit (to £12.7 million) on the back of a strong boost in sales for the financial year to 31 March 2017.

The company, which began as a spin-out from Queen’s University, enjoyed a strong trading year, with growth recorded across the board.

Overall company revenues grew by 16%, from £59.8 million to £69.2 million, as did business in the Americas, which accounts for almost 40% of international sales, while the Asia-Pacific market, which makes up a third of international sales, grew by 24%.

The company also increased staff numbers by 11 (from 279 to 290) at its Belfast base, and it continues to invest in R&D in support of its product range.

Andor Technology is a subsidiary of Oxford Instruments plc, which paid nearly £180 million for it in February 2014. The parent company reported a £25.5 million loss in the year to 31 March 2017, after a profit of £9.7 million a year earlier.

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