Press peripherals manufacturer technotrans says it has "comfortably achieved" its 2019 forecast, with its revenue target exceeded and EBIT at the upper end of forecast.

Consolidated revenue showed a decline of 3.9 per cent on the previous year, to 207.9 million Euros, but the EBIT result was a profit of 8.3 million, "at the upper end of the forecast range" albeit only half last year's figure.

A dividend of 0.44 Euros per share has been proposed.

Chief executive Dirk Engel blamed the downturn in revenue and earnings on "cyclically-related downturns".

"Thanks to the healthy volume of deals closed in the final quarter, we ultimately exceeded the revenue target - nevertheless, we are not satisfied as a whole with the business performance".

He said that but for unexpected charges amounting to 1.4 million Euros, the group EBIT margin would have been 4.7 per cent. Technology accounted for 148.4 million Euros of consolidated revenue (71 per cent) with Services revenue of 59.5 million Euros "almost on a par with the previous year".

The full annual report and presentation can be downloaded from the company website.