Spending cuts hit whiteboard maker’s sales
INTERACTIVE whiteboard maker Prometheam World saw its pre-tax profits before exceptionals drop by 38.5% to £5.9m in the first half of 2011 as its sales fell by almost 12% to £107.8m.
Chief executive Jean-Yves Charlier said the results were in line with expectations “reflecting the continuing backdrop of government austerity programmes and comparison with a very strong first half last year”.
He said the company had reacted quickly to the changing environment and had taken action to address its cost base, consolidating its sales regions of of Europe, UK & Ireland and the rest of the world into one International division. the US remains its largest market, responsible for 60% of its total sales.
Charlier argued that the business had maintained its operational momentum, launching several new products including a multi-touch, multi-pen interactive display and that it had made ground in several new markets.
A tender win in Italy has seen it ship 6,400 of its ActivBoard systems to Italy, with a further 1,600 to follow in the second half of the year.
It has also begun a pilot project in Mexico and a strategic partnership with Channel One in the US to deliver interactive news programmes for schools.
However, Charlier said that its markets would continue to be difficult due to further public sector cuts.
“We continue planning our business with caution,” he said.
“We continue to believe the long-term drivers of demand remain strong as governments recognise the role that technology will play in creating 21st century education systems.”
