BICC Plc, the London W1-based cables, construction and technology group, has reported pre-tax profits for the year to December 31 down 9% to UKP183m on turnover that nudged up 3% to UKP3,890m. By division, the results showed BICC Cables and BICC Technologies to have been the only companies to have increased profit over the 12 months – BICC Cables, the group’s largest operation, turned in gross profits up 26% at UKP110m on sales up 10% at UKP954m and BICC Technologies, the group’s smallest contributor, saw gross profits of UKP10m, up 75%, on sales down 4% at UKP166m – the fall in turnover reflects the shedding of companies such as Verospeed (CI No 1,506) as part of the division’s reorganisation programme which is now complete. The biggest decline in profits came from BICC’s Australasian operation, which saw profits fall 39% to UKP32.5m on turnover that fell 16% to UKP641m – this is attributed to the severe recession Down Under. BICC says group assets at the year end were up 2% at UKP630m.
