Kode International Olc has reported extremely disappointing end of year results and is about to put drastic restructuring plans into operation. Pre-tax profit was down 85% at UKP2.7m, while turnover wobbled to UKP33.3m. In response the company will develop Kode Computer and printed circuit board manufacturers Kam Circuits, but will dispose of Moore Reed and distributors Xitan, despite the latter companies turning in profits for the year. Graphics Displays, which distributed desk top publishing hardware and software ceased trading in February with some of its business being absorbed into Kode Computers. In a bid to lead a recovery the management is leaving its headquarters in Bristol and is moving everything to the company’s plant in Swindon, Wiltshire to try to keep a stronger control of the business.
