Care technology company Doro believes it is seeing “positive development and increased activity” based on its latest quarterly financials, despite the ongoing uncertainty of the pandemic.
The international company revealed that its net sales for the first quarter of the year are down 20.6% on the same period in 2020, making for a total of SEK 336.7 million (£28.9 million).
However, net sales across the company’s care business, were SEK 138 million (£11.9 million), an increase of 5.9% over the first quarter in 2020.
The company appears to have offset its decreasing sales, though, with profit after tax for the period growing from SEK 14.5 million in Q1 2020 to SEK 18.8 million. Profit per share was SEK 0.78 , up from 0.61.
President and CEO Carl-Johan Zetterberg Boudrie commented: “During the quarter we have seen a positive development and increased activity in some of our main markets, although the situation is still uncertain. For business area Doro Phones, France delivered a strong quarter and for business area Doro Care we see an increased tender activity in the Swedish market.
“During the quarter we have experienced increased problems in the supply chain with constraints in components, increased lead times and continued high freight costs. So far, we have succeeded in meeting the demand from our customers, but with increased problems, there is a risk that this will have a negative effect in the coming quarters.
“The positive development is proof that we effectively managed to adapt the business to the current situation, while at the same time focusing on the future.”
Turning to the care side of the business, the CEO added: “We have during the first quarter seen a positive development within business area Doro Care, despite the continued impact of the pandemic, mainly on the Swedish market where procurements once again gained momentum.
“The increased tender activity is mainly an effect of Addas (former SKL Kommentus) temporary framework agreement. We are experiencing an increased confidence in us as a supplier as we won several new agreements in Sweden and the UK during the quarter.”