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Computronics eyes overseas markets

PERTH-BASED agricultural and electronic display technology provider Computronics has launched an initial public offering in a bid to expand its export operations.

The company is aiming to raise $3.5 million to develop European and North American markets while maintaining domestic growth.

Computronics managing director Ole Hansen said demand for the company’s farming software packages was strong.

He said many European authorities were becoming tougher with their farmers with regard to chemical applications. Some farmers were now required to prove what they were spraying and where they were spraying it.

Mr Hansen said Computronics had a software program that, while designed for a different purpose, could perform that monitoring role.

“The environmental aspect is one area that we have won by default. We have something that fits perfectly. The overseas market is where we are looking for growth,” he said.

And while many in Australia’s farming community are experiencing tough times, this was not adversely affecting Computronics’ growth, according to Mr Hansen, who said the company’s largest agricultural markets – WA and SA – were faring well.

“The drought is patchy. All the news is how bad it is. I know one farmer who paid for his farm this year from one canola crop,” Mr Hansen said.

He said Computronics’ other core business, the manufacture and production of electronic display systems, would enjoy significant growth in the United States.

The company had recently completed signs for Keno systems, which had potential sales of between $3 million and $6 million over three years.

The company has also completed signage projects for airport terminals with the ability to display data obtained from the computer system in operation at the airport in question. The company had already taken an order from Rockhampton Airport.

Computronics expects its sales revenue to grow by $6 million this financial year to an expected $16.8 million. Net profit after tax is tipped to be $1.8 million.

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