Cray Electronic Holdings Plc of Woking, Surrey has reported a good solid year’s progress with pre-tax profit up 30% at UKP17m on turnover up 29% at UKP112m. A particular source of pride for the company stems from the fact that 22% of its turnover is now derived from exports. The Communications Division saw sales grow by 45% to nearly UKP30m, while the tactical withdrawal from low margin defence activities reaped a 288% leap to UKP1.1m in pre-tax profit for the Defence Systems Division. This improvement should be further sustained as Cray gets out of all sub-contract build to-print by the end of the current financial year and concentrates on its proprietary design business. The Instruments & Control Division although hampered by relocation and reorganisation saw sales grow by 28% to UKP34.2m, but the Services Division stood still both in terms of profits and turnover. The Technology Division’s pre-tax profit was boosted by 227% to UKP3.1m thanks to the performance of Cray Advanced Materials and the acquisition of GRP Material Supplies. Cray is, justifiably, confident about the coming year.
