View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
February 12, 1997updated 05 Sep 2016 12:40pm

AMSTRAD LOSSES REINED IN AT 2.8M POUNDS AFTER RESTRUCTURING

By CBR Staff Writer

Despite substantial restructuring costs and the loss of 150 UK jobs, Amstrad Plc has managed to reduce its losses in the interim period, and founder and chairman Alan Sugar says the outlook for the second half of the year is positive. Pre-tax losses for the six months to December 31 were were 2.8m pounds, including a 6.7m pound restructuring charge, down from losses of 4.6m pounds last time, while revenue fell 4.5% at 154.1m pounds. The Brentwood, UK-based company announced its plans for the restructuring of Amstrad Consumer Electronics Limited in its last annual financial report. Since then the company has closed its Benelux operation, which ceased trading at the end of December, and its French branch, which closed in January. Sugar stated that restructuring has been undertaken in an orderly way to maximize the value of Amstrad Consumer Electronics, but the closure of European activities has taken longer than expected and subsequently required greater financial backing. Speaking on behalf of Amstrad Nick Hewer said the company was in extremely good shape and looking forward to concentrating on the business generated from its subsidiary companies, Dancall Telecom A/S and Betacom Plc, which have been experiencing increased sales figures and computer direct sales company Viglen Ltd, whose sales matched those of the previous year. Hewer said that the Amstrad Group still has 112m pounds in the bank, and would be making an announcement in March about its new dual band telephones, which Hewer described as a very hot topic. It will pay an interim dividend of 1.25 pence.

Topics in this article :
Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU