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2 October 2003 Delcam Sets New Record for
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Delcam in the UK has reported its best-ever half-year sales, for the first six months of 2003. Sales during this period were £9.8 million, up 3% on the previous best half-year sales of £9.5 million achieved in the first half of last year.
"To achieve record sales is a real achievement when many of the countries in which we operate are experiencing poor economic conditions for the manufacturing industry," says Delcam managing director Hugh Humphries. "It clearly demonstrates that our policy of continuing to invest in developing better products is the correct one."
In announcing the results, Delcam chairman T.R.M. Kinsey offered the following review points:
"The first half of this year has seen poor economic conditions for manufacturing industry in a number of the territories in which we operate. In addition, a number of external factors, in particular, the conflict in Iraq and the SARS epidemic, have delayed orders with an impact on our sales performance. The increase in sales, achieved in the face of these difficulties, should be considered as a very good result.
"We continue to believe that it is essential to enhance our development activity as we seek to further increase sales by having the best products in all of the sectors in which we operate.
"During this period, R&D costs increased by over £250k over the same period last year and now represent 25% of turnover. This increased investment continues to limit our profitability in the short term but we remain confident it will lead to increased long-term profitability.
"We have outlined a strategy to increase sales further with three main strands: first, to develop our reputation as a supplier of product development solutions, rather than just as a CADCAM developer; second, to grow our business outside the mold and die area, both in other areas of toolmaking and in other industries; and third, to increase our sales to larger organizations as well as to smaller and medium-sized companies.
"In 2002, we announced the establishment of a consultancy group to tailor our software for specific applications of our customers operating in a broad range of industries, including the medical, footwear and aerospace markets. This group has already won a number of contracts and we expect this to be a growth area for the business in the future."
For further information:
Delcam plc
www.delcam.com
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