Domino falls on its warning of flat trading
DOMINO Printing, the seller of printing equipment for retailers, led the FTSE 250 fallers yesterday after warning that pricing pressure in Asia would lead to flat profits in 2015.
Shares tumbled 16.7 per cent on the news, making Domino the top percentage loser on the London Stock Exchange yesterday.
Domino’s results for the six months to 30 April were otherwise in line with expectations, the firm reported revenue growth of seven per cent to £173.8m and turned a profit of £25.9m, up from a loss of £3.8m during the same period last year. “We are cautious about prospects for the business in 2015… as a result of the competitive pricing environment in Asia and other developing markets and the need for additional investment in R&D,” said chairman Peter Byrom.