Niche handset manufacturer posts increased revenues and operating profit in third quarter
Swedish handset manufacturer, Doro, has posted year-on-year improvements in most categories of its financial results for Q3 2014.
The company, which targets users over the age of 65, grew its year-on-year revenues by 18.2 per cent to £28.1 million, up from £23.8 million in the same reporting period last year.
It achieved an operating profit of £2.5 million, up 44 per cent on the £1.7 million it posted in 2013. Profits after tax also increased by 63 per cent from £1.3 million to £2.1 million.
UK sales were £4.1 million in the quarter, up from £3.4 million in the previous quarter.
Order intake increased to £36.1 million worth of products, up 16 per cent on last year (£31.1 million). Cash flow was the only metric to fall from £1.6 million to £1.2 million.
Chief executive officer Jerome Arnaud said that deals it signed recently with Telekom Deutschland and Vodafone had led to its growth, particularly in Germany.
“This has significantly strengthened Doro’s position on the German market,” he said. “In German retail we are now three times bigger than our closest competitor.
“The product synergies extracted from our acquisition of IVS (German senior phones manufacturer) in 2013 is an important factor behind our progress. Also EMEA, France, Italy, UK, US and Canada saw good growth.”
The firm’s UK managing director, Chris Millington, had previously told Mobile News that it wants to be an established brand in the UK smartphone market by 2016.
It unveiled its second smartphone to launch in the UK in September. The Liberto 820 off Android 4.4.2, has a 4.5-inch touchscreen, eight-megapixel camera, video recording capability, FM radio, torch, 8GB of internal memory and a microSD card slot that can expand this by a further 32GB.