CADCAM developer Delcam has maintained its industry-leading levels of research and development expenditure during the first half of 2009 despite feeling the effects of the global economic downturn. The company invested over £4.7 million in R&D during the period, a small increase from the £4.5 million invested in the first half of 2008.
Sales during the opening six months of £16.1 million were less than 5% down from the £16.9 million achieved in the equivalent period last year.
Pre-tax tax profit for the first six months of 2009 was £0.3 million, against £1.4 million in the first half of 2008.
Commenting on the results, Delcam chairman Peter Miles (photo, right), said, “The trading environment in 2009 has been challenging and the impact of the downturn in the manufacturing sector has been even harder than we initially anticipated at the end of last year. With many companies postponing their investments in capital equipment, it is to be expected that the associated software sales should also be delayed.” He added that it is Delcam’s ambition to build market share during the downturn.