Blick Plc, the Swindon, Wiltshire-based time recording and communications equipment group which on Monday finalised the acquisition of Granada Group Plc’s Telefusion Communications Ltd subsidiary (CI No 1,675), has turned in pre-tax profits for the six months to March 31 up 4% at UKP2.8m on sales that fell 2% to UKP10.7m. The company’s cash offer of UKP3.98m has been supplemented by 2.1m new ordinary shares in Blick. Telefusion’s core business is the supply of communal aerial television, radio and satellite distribution systems, and of security systems, to local authorities, housing associations and the Department of the Environment. The company, which turned in pre-tax profits down 12% at UKP3.6m for the year to September 29 on turnover down 9% at UKP8.9m, brings with it 190 staff, three regional centres and seven depots, and forecasts UKP18.5m gross contracted rental and maintenance revenue over the next five years. This will be important for Blick, which after a decline in equipment sales, has hopes pinned on the sustained revenues from rental, maintenance and supplies – these were up 4% in the first half. Gross rentals receivable under contract have increased by 15% to UKP52m from UKP45m, in spite of a high level of terminated contracts. Sales of computerised time and software products increased by 14%, while time recording equipment sales declined – fewer people clocking on. Export paging sales continued to rise, communication products were up 17%. Cash balances at the interim stage were UKP7.4m, up from UKP5.6m last year.
