Chinese offset equipment supplier Duoyuan Printing has reported a 15.1 per cent revenue increase to US$42.4m for the second quarter ended December 31, 2009 compared with US$36.8 million for the same period last year. The company says the increase was primarily due to the growth in sales of multicolor presses.
The Beijing-headquartered equipment supplier also reported a gross profit margin of 54.0 per cent compared to 54.9 per cent the year before and an operating income of US$17m or 40.1 per cent, compared to US$15.4m or 41.9 per cent last year.
Christopher Holbert, CEO of Duoyuan Printing says, “Duoyuan Printing delivered another solid quarter of revenue growth and high margins, due to increased sales of multicolor printing presses combined with continued efficiency gains from our vertically integrated production facilities.”
He continues, “Looking ahead, the planned improvements to our Hunan facility and the introduction of our cold-set equipment line, due in the second half of calendar 2010, will help us to further capture growing demand in the market and drive our continued growth.”
According to the company, the sales of multicolor small format presses for the three months ended December 31, 2009 were US$14.9m, an increase of 17.6 per cent, from US$12.6m in the prior year period.
Demand for multicolor presses increased due to a wider acceptance of various new products that were introduced in the last and current fiscal years and also due to increased advertising and promotion, according to the company.
The sales of single colour small format presses were US$1.8m, an increase of 10.9 per cent however the sales of single colour large format presses were US$3.2m, a decrease of 22.5 per cent, from US$4.2m the year before, which the company says was caused by its focus on the promotion of multicolor presses.
For CTP systems, revenues were constant at US$1m for the quarters ended December 31, 2009 and 2008, respectively.
