Technology firm Zytronic has unveiled an improved set of figures in its interim report released this morning.
Pre-tax profits for the Gateshead firm, which makes touch screen sensors used in equipment for cashpoints, gaming and vending machines and household appliances at its three factories in Blaydon, rose by 87% to £1.4m, while sales increased to £8.8m.
Chairman Tudor Davies said: “We have a good pipeline of future prospects from both existing and new customers and with current trading continuing at the recently improved levels, we expect to make further progress.”
The increase in sales of £300,000 over the same period last year was attributed to a rise in orders from ticket machine manufacturers and large format gaming applications in the United States.
Other figures unveiled today for the six months to the end of March show that sales in the touch sensor division account for 77% of all sales, while there was an improvement in gross profit margin of nearly 7%, to 33.9%.
Zytronic will pay a dividend of 2.85p per share.
This latest trading statement follow a a 55% drop in pre-tax profits to £1.9m for the year to September 30 last year. Sales dropped £17.2m from £20.4m but the firm said the full-year figures had been impacted by a difficult first six months, a trend it reversed in the second half of the year as large orders came to fruition.
Zytronic is the developer and manufacturer of a range of international award-winning touch sensor products.
They employ an embedded sensing element and are based around projected capacitive technology sensing. PCT offers significant durability, environmental stability and optical enhancement benefits to system designers of touch interactive, industrial, self-service and public access equipment.
During 2012, Zytronic developed new know-how to create mutual projected capacitive technology which enables multi-user and multi-touch touch sensing in ultra-large form factor sizes up to 84in.