Apricot Computers Plc has produced the disappointing results it warned of in January (CI No 1,097). Pre-tax profits fell 27% to UKP6m largely because the Computer Systems division was hampered by a shortage of components, while Apricot Financial Systems Ltd was pinched by reduced orders from the City. Within Apricot’s core systems division the Xen-S AT-bus machines provided the majority of the division’s UKP71m turnover, but the company has UKP10m in orders for the Qi Micro Channel machine. Growth in the reseller side of the business has come from such vertical markets as health and local authority, while direct sales have increased by 36%, largely thanks to the marketing of the VX9000 departmental Unix system from Sequent Computer Systems Inc. Despite the problems within this division from the availability of components Apricot is still dedicated to manufacturing at its Scottish plant where it has 220 employees who manufacture from the boards up the boards are stuffed in Singapore Although profits in the Financial Services division fell 56% to UKP1.2m, Apricot is confident that products like the city dealing system Citydesk, along with the integration of Adatco Computer Services Ltd, which was acquired last May, will set the division on its feet again. At present, however, the company’s blue-eyed boy is the Computer Services division which turned in profits up 40% at UKP3.4m. This division grew in all its sectors and it is expected that the acquisition of DDT Group Plc with its multi-vendor maintenance capability will lead to further expansion. Meanwhile, Apricot Sig mex, the ravaged graphics subsidiary acquisition, has returned to profitability, and is now focussing on distribution rather than manufacture, having won ex clusive distribution rights within Europe for systems from US company Chromatics. Apricot believes it is on course to benefit from the moves within the compu ter industry towards both open systems and distri buted computers and is optimistic about its future.
