Harman Technology sees bright future as profits rise

NEW products for the medical sector have helped Cheshire-based Harman Technology grow sales and annual profits.

The Mobberley-based company, which was created after the demise of photographic giant Ilford Imaging as the world turned digital, said sales in 2011 rose 4,4% to £23.6m and operating profits by nearly 16% to £2.2m, as a result of innovative new products and increased efficiencies.

The group which also still manufactures the world famous ILFORD brand of black and white photographic products, says it is expecting further growth from new income streams in the coming months and years.

One of the biggest opportunities for Harman has been the development of silver chloride compounds which can be used by companies making a new wave of anti-microbial products used in products from fridges to textiles such as socks that reduce foot odour and fungal growth in laminated furniture.

In a further move into the medical sector, Harman has been awarded £240,000 from the UK Technology Strategy to develop a disruptive technology for cell separation. The technique uses novel technology that will ultimately help in the fight against cancer.

Despite a global decline in demand for monochrome film and paper, Harman has seen growth in its ILFORD black and white division.  Growth is mainly being driven by demand from North America which accounts for more than 40% of export sales.

Steven Brierley, director of sales and marketing at Harman said: ““Many of our competitors have reduced their offering significantly, while others have refocused their efforts on digital technology.  

“We have stayed strong, certain in the knowledge that there is still demand for our products.  Clearly, we’ve scooped up many of the sales opportunities left by those who’ve exited the market.

“More than anything, we continue to drive the business forward with new technological developments, new products and new income streams.

“We will continue to offer a diverse range of black & white film, and paper to ensure our customers have the breadth and depth of products they want.

“We have many things due to be launched in 2013 and are very excited about the future.”