Calluna Plc, the Glenrothes, Scotland-based manufacturer of 1.8 disk drives, saw a loss of ú1.05m on turnover of ú409,000 for six months ended September 30, 1994 in its first results announced since flotation on the Unlisted Securities Market on October 31 last year. The results, predating the flotation, do not reflect the ú10.1m of new money raised in the placing, which the company said has strengthened the balance sheet. It said the benefits resulting from initial investment of these funds in operations and capital investment should be realised over the next several months. Since the flotation the company has expanded its sales and marketing efforts in Europe and the US and as a result, managing director Dr Norman White said the company has been pleasantly surprised at the applications for the drives outside the pure personal computer market. Applications include general factory automation, aircraft monitoring equipment, voice messaging machines and small PABX applications, some of which it is supplying already. It is spending some of the flotation money raised to develop second sources for some of its components both in the US and Europe. The company has used a little of its ú10.1m and has no debt.
