Milton Keynes-based Harland Simon Group Plc, the business that designs and produces drive control systems and related software, and which came to the Stock Exchange two years ago, is doing extremely well. For the year to March 31 1989, pre-tax profits were up 64% to UKP5.5m, on turnover that rose 107% to UKP41m. This is despite the fact that Harland Simon made three acquisitions in the past year which has resulted in a slight net loss. The group acquired F&H’s line management system business last July for a UKP1 and the repayment of UKP500,000 in debts incurred by the company. In November it bought a complementary US company, Electro-Flyte, in a bid to move into the US market, as well as the Scandinavian company NEF which provides ancillary equipment to paper machine builders. Harland’s chairman David Mahony expects the current financial year to see a consolidation of these acquisitions resulting in a further advance in profitability.
