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Whiteboard firm's profit boost
Origin: WenYang time: 2010-08-25
Blackburn-based interactive whiteboard maker Promethean World has enjoyed a strong growth in both earnings and profits in the six months to June 30 due to improved exports, particularly to the United States.
The Northwest firm reported a 35% per cent increase in sales to £122.4 million compared with the same period the previous year. It also revealed that net income before exceptionals rose to £9.2 million - a 48% increase.
Chief executive Jean-Yves Charlier said: "Strong global demand, together with increased market share, means that we have delivered another period of solid growth across our key markets.
"Over 90% of our sales are now outside the UK, with North America continuing to be our lead market, accounting for some two-thirds of our sales and showing 33% growth in the period.
"Demand for interactive learning technologies across the world also continues to increase, with continental Europe and the rest of the world growing by 61% and 84% respectively."
The company believe that the long-term growth trajectory for the market for this type of technology is high. Just 7% of the world's classrooms have interactive whiteboards, while less then 1% use learner response systems.
Charlier added that he expects sales of the latter to to continue to offer "excellent growth prospects", helped by the recent acquisition of SynapticMash - a Seattle-based software firm whose products directly complement Promethean World's existing technology.
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