Self-service screens do well as firms cut staff

May 21 2009 by Chris Knox, The Journal

Chairman John Kennair said: “There are encouraging signs that growth in the sales of the group’s touch sensor products will continue, with a number of major new programmes in the Far East, Europe and North America, which have been under development for some two to three years, coming to fruition.

“These factors, combined with further efficiency improvements, give us continued confidence in the growth in both sales and profitability going forward.” The firm, which was set up in 1943, said it was seeing a slowdown in business from the banking sector as a result of the recession, but it had factored this in last year and did not believe it would prevent it continuing its aim of growing by about 35% in the next six months.

It is not the first time the company has been hit by problems arising from the banking sector, with a decline in the ATM market in 2007 halving annual profits to £640,000.

It has also witnessed a £400,000 fall in sales of non-touchscreen products, including its filters, as a result of tougher trading conditions.

This did little to dampen enthusiasm among brokers.

A note from Brewin Dolphin said: “Zytronic has reported another strong set of results, demonstrating further growth in touch sensor sales.

“We expect touch products to continue to grow in spite of the economic climate and offset any slowdown in either ATM or the group’s more mature product range.”