Azlan Plc, one of the UK’s better known personal computer and networking systems distributers, published the pathfinder prospectus for its planned flotation on Friday, together with results for the six months to September. The details of the placing on the London Stock Exchange are likely to be published on November 12 and the ordinary shares are expected to start trading on November 24. The Wokingham-based company originated in 1991 through a UKP6.5m management buy-out from Logitek Plc. The move was lead by managing director David Randall with support from a group of institutional investors lead by CINVen. Since 1989 the company’s figures have shown consistent growth in turnover, operating profit and pre-tax profit – the only measures that it has published. The last six months saw pre-tax profits at UKP1.9m on a turnover of UKP28.5m. The figures for the year to March 31 show pre-tax profits of UKP41.2m, up 40.7% on the previous year with pre-tax profits up 43.3% at UKP2.95m. Most of the success is due to the company’s early jump into the networking market. The main reason given for the listing is the increased visibility is regarded by the directors to be of particular importance in the case of corporate end-users where the demand for products is created.
