Making clear why the promised public flotation of DRI Holdings Ltd keeps getting postponed, the company has reported a second year of declining sales and profits. The decline in sales is down to the running out of the company’s agreement to supply disk drives to former shareholder Control Data Corp, but the numbers would clearly not impress intending investors. The company, which is the UK’s biggest manufacturer of peripherals, making printers and displays as well as disk drives, recorded pre-tax profits for 1986 down 94% at UKP163,000 on turnover that fell 16.7% to UKP56.5m. The company says that factoring out the Control Data business this time and last, sales were even with 1985.
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