Vindon has growth in store
VINDON Healthcare increased sales by 15% in 2011 to £6.83m (2010: £5.93m), while pre-tax profits climbed 10% to £1.1m.
The firm also said that its forward order book has strengthened, with contracted future income standing at record levels at £4.5m (£3.9m).
The company said that demand for its storage facilities for scientific samples remained static in the UK but grew strongly both in Ireland and in the US, where it opened a base in Atlanta in the later part of 2010. Revenues from its North American operations more than doubled to £781,000 at year end.
Chairman Liam Ferguson said: “The benefits are starting to flow from actions taken in the last two years to invest in our facilities and strengthen our team. The successful completion of the largest equipment order in our history, a continuing strong performance in Ireland and improving results in the USA demonstrate that we are moving in the right direction.”
The company’s improved financial position has also allowed it to reduce net debt during the year by £375,00 to almost £1.6m, and it has increased its dividend to shareholders by 10% to 0.182p per share, or £158,067.
“We plan to add new revenue streams and capitalise on our strengths to drive continued profit growth,” said Ferguson.
