Ferranti International Plc shareholders and other fans have nothing to look forward to but a dour struggle back to some semblance of stability and prosperity: chairman Eugene Anderson told the annual meeting that while the company has won contracts worth $127m in the past five months, there is little likelihood that it will make a profit in the year to March, and, more significantly, there is no pot of gold at the end of the rainbow – despite the mountain of litigation against the alleged fraudsters at International Signal & Control in the US, there is very little chance that it will be possible to squeeze any substantial compensation out of them, and the UKP40m already handed over without admission of liability by Peat Marwick McLintock is likely to be the sum total of any redress.
