Martin Professional’s revenues for the first three quarters of 2007 are up from US$135.6 million to US$186.6 million, with much of the 24.3 percent increase coming from some high-profile contracts.
Although the increase is broadly based across all of the bespoke Danish lighting company’s market segments, it’s expecting its LED products – which now account for 15 percent of turnover – will spearhead future growth.
Launched earlier this year, the LED product line is expected to generate revenues just shy of US$20 million for 2007, as Martin establishes itself among the larger suppliers of LED effects to the entertainment industry.
Profit before tax increased from US$500,000 to US$13.4 million for the nine-month period, largely because of very large signature projects including supplying 1,200 outdoor fluorescent light fittings for the Grand Mosque in Abu Dhabi.
There were also large deliveries associated with several big events, including Copa America in Caracas, Venezuela, the Pan American Games in Rio de Janeiro, Brazil, Singapore National Day Parade, Special Olympics World Summer Games in Shanghai, as well as preparations for the 2008 Summer Olympic Games in Beijing.