Danish meter manufacturer Kamstrup saw 3 per cent growth and sales of €173 million (US$238 million) in its year-end results for 2013.

Kamstrup attributes its growth to a strategy of investing in research and development.

Henrik Rom, chief financial officer at Kamstrup, said: “Our efforts in product development have led to a number of successful product launches and this is evident in our annual results.

“Furthermore, we have strengthened our competitiveness through upgraded product functionality and streamlined production costs.”

More than 80 per cent of Kamstrup sales are from markets outside Denmark.

In 2013, the company opened new offices in the US, Chile and Austria and expects to see market share increase in these countries this year, said Rom.

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