Pre-tax profits at the inkjet and laser manufacturer dropped by a fifth to £25.3m following restructuring costs of £8.3m, in part due to the axing of 70 UK jobs, announced in October.

The company said it expected the cost-cutting measures, which also saw Domino announce the closure of its Denmark and Anaheim US facilities, to produce annual savings of £10m.

Revenues stood at £253.4m, up from £231.5m in 2007, a 9% rise.

Nigel Bond, group managing director of Domino Printing Sciences, told PrintWeek the figures were "in-line with what the market was expecting," while the group's top line had increased for the 30th consecutive year.

He added: "Next year will be challenging but we have the product portfolio to approach 2009 with confidence."

Dividends per share were 11.83p, a 20% growth from 9.86p in 2007, while net cash inflow before tax stood at £38.5m, up from £35.1m.

Peter Byrom, chairman of Domino Printing Sciences, said: "Sales in 2008 were in excess of £250m for the first time in the group's history.

"Despite the more uncertain global economic conditions in the second half of the year, the fundamental strength of our business has led to record results."