Martin Lights The Way

Within a couple of years of taking over Martin Professional, chief exec Christian Engsted looks to be turning the company around.

The Aarhus-based lights and effects firm has just announced Q1 revenues of DKK 274.5 million (US$ 49.9 million) and a pre-tax profit of about DKK 9.1 million (US$ 1.6 million) – both of which are company records.

Revenues have steadily increased since Engsted’s arrival and prudent cost-cutting and improved performances in markets including France, Germany and Scandinavia are beginning to see the Danish company recover from its 2005 low.

It lost DKK 3.0 million (US$5 million) in the first quarter of 2006 but still managed a DKK 18 million annual profit.

This year, revenues are up 20 percent and Martin expects to achieve an annual income of DKK 1.1 billion (US$ 200 million) with a profit before tax of approximately DKK 40 million (US$ 7.3 million) – one-third up on earlier expectations.