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[November 2003]
Sales Record for Delcam
CADCAM specialist Delcam PLC (Birmingham, England) achieved its best ever half-year sales during the first six months of 2003. Half-year sales were 9.8 million, up 3% on the previous best half-year sales of 9.5 million achieved in the first six months of 2002.
Pre-tax interim profit was just below 500,000, a small decline compared with the first half last year. The change was the result of further increases in product development costs. "We continue to believe that it is essential to maintain and enhance our development activity as we seek to further increase sales by giving our customers the best products in all of the sectors in which we operate," commented Chairman Tom Kinsey. "This increased investment continues to limit our profitability in the short term but, we remain confident, will lead to increased long-term profitability."
"To achieve record sales is a real achievement when many of the countries in which we operate are experiencing poor economic conditions for manufacturing industry," added Managing Director Hugh Humphries. "It clearly demonstrates that our policy of continuing to invest in developing better products is the correct one.
"In contrast, many of our competitors seem to be focused on cutting costs, either to regain their profitability or to minimise job losses. The fact that their sales are falling while ours are rising confirms that our customers recognise the value of the investments we are making in our software."
ENDS