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February 1, 1988

FLETCHER DENNYS SYSTEMS REPORTS HALF-YEAR LOSS OF UKP1.4M

By CBR Staff Writer

Rescued twice by Hillsdown Holdings Plc – with UKP1.3m in July and another UKP800,000 in October, microcomputer systems marketer Fletcher Dennys Systems Plc still isn’t out of the woods, reporting a loss for the six months to September of UKP1.4m (see page five): the company, which explained its plight by saying that it geared up for big sales to local authorities that did not materialise, expects to return to profit in the current period; the company was floated on the Unlisted Securities Market in July 1986, and not long thereafter moved into losses; part of the most recent loss relates to accounting changes.

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