Printed circuit board manufacturer, maintenance and services company Kode International Plc has posted favourable interim results, having pulled its maintenance arm DCM Services back into profit and reshaped its Far East-based printed circuit board manufacturing operation. The company’s pre-tax profits have soared 115% to UKP710,000 on turnover up 27% to UKP12.3m. Although group figures were not broken down due to the ‘commercially sensitive’ nature of the Kamtronics subsidiary, set up in January this year to handle the manufacturing of high-volume printed circuit boards in the Far East. The Kam Circuits Ltd subsidiary, which handles the production of higher-end boards in the UK, was profitable, said Kode’s chief executive Steven Day, although business was down on 1992 because the level of activity last year had been unusually high. Kam has just had its production facilities enhanced, which will incur an approximate UKP350,000 cost on the balance sheet next half. The company is also taking on an additional six staff. Expansion into continental Europe was slow, although the Kam office in Dusseldorf will exploit the massive German market according to Day, who said that Europe today accounted for 40% of Kode’s printed circuit board business. Also profitable was DCM Services, bought by Kode last year, which recorded a profit of UKP123,000 against a loss of UKP453,000 last time. DCM’s strategy is to move away from the competitive maintenance market and into facilities management and other services, although 80% of its business still lies with maintenance at present, said Day. DCM accounts for 38.2% of the company’s business, with printed circuit boards making up the rest. The interim dividend went up 33% to two pence, while earnings per share jumped 72%. Day expressed an interest in other acquisitions, mentioning companies dealing with board to component interconnection as possible targets. Indeed initial talks have been conducted with possible targets, he said.
