Delcam Chairman Peter Miles reported today that the company had performed strongly in the face of challenging trading conditions during 2009. Sales at £31.8 million were slightly down year on year but still represented the second-best turnover in the company’s history and stood 7% higher than sales in 2007.
Reflecting Delcam’s decision to maintain its high levels of investment in R&D and to continue to employ the largest development team in the CAM industry, the Group’s profitability declined compared to 2008. “The reduction was in line with expectations and we anticipate profitability moving higher in the current financial year,” said Mr. Miles.
The high value that Delcam’s customers place in its product development was seen in the growing revenues from maintenance contracts. These contributed £10.7m to the 2009 total and showed a year-on-year increase of 10%.
Looking to the future, Mr. Miles commented, “Uncertainty over the timing and strength of the recovery in the global economy continues to make it more difficult than usual to forecast accurately. However, the continued growth of recurring revenues, from annual software maintenance and support income, and the increase in new software sales in the later part of 2009 give us cause for confidence.”
“Our policy of offering a wider range of products and services across a broader number of industries, together with our strong balance sheet, puts us in a better position than many of our competitors,” he continued. “We continue to view prospects for the business over the long term very positively.”
A copy of the complete Chairman’s statement can be found here.
For further information on Delcam and its CADCAM software, please contact:
Peter Dickin, Marketing Manager
Direct phone: 44 (0)121 683 1081
Small Heath Business Park,
Birmingham, B10 0HJ, UK