Revenues rise at touchscreen maker Zytronic

May 26 2010 By Karen Dent, The Journal

TOUCHSCREEN maker Zytronic has reported a rise in first half sales and confirmed it has been awarded the second and final payment of a £540,000 grant.

The Gateshead company, which saw revenues upn 3% to £8.2m, said it has got the rest of the Selective Finance for Investment grant for expansion of its Blaydon operation where it employs 190 staff.

Zytronic said it had got the £540,000 under the Selective Finance for Investment (SFI) grant scheme, following the first £80,000 instalment it received in March 2008.

The grant is to help the firm develop its Zypos, commenced in mid-2005, to create and staff a new manufacturing facility for its then recently launched touch sensor products. The latest instalment of the grant will carry through the development until 2013.

Chairman  John Kennair, who will be replaced by David Banks in July, said: “The strength and vitality of the management team, combined with the continued strong growth in the order book, give us confidence in the continued improvement of the group’s trading performance going forward.”

The company’s profits for the six months to March 31 may have only been up 1% to £1.06m but it but it has seen a 19% rise in new orders to £9.7m and that does not include two sigificant areas of new business - a new drinks fountain for Coca Cola and sales to the white goods sector.