Domino cites 'difficult trading' for fall in like-for-like sales

Domino Printing Sciences has blamed "more difficult trading conditions" for a 2% dip in like-for-like sales for the four-month period from 1 May 2008 to 31 August 2008.

The company claimed that the current climate had led a percentage of customers to extend buying decisions or opt for deferred capital expenditure plans rather than take the investment plunge.

The figures come off the back of the group's interim results with revenues for the four-month period up 4%, while sales increased 1% thanks to businesses acquired during the period.

Domino cited "difficult trading conditions with economic slowdown" being experienced in the group's end-user markets, resulting in "consistent" levels of sales activity.

New equipment order intake rates over the four-month period were lower than the first half-year, while net cash at the end of August was £7.4m.

It recorded an 8% rise in revenues for the 10 months to 31 August compared with the same timescale the year previous.

For the year as a whole, Domino anticipates the business will perform in line with expectations. It expects to issue its next trading update on 9 December 2008.