After five consecutive years making losses Imtec Group Plc has finally broken back into the black with pre-tax profits of UKP40,000. Admittedly this figure is not great considering Imtec’s UKP7m plus turnover, but following a loss of just under UKP3m this time last year it is a marked improvement. This progress has been made possible by a good performance from Laser-Scan, reduced losses from Imtec Engineering Graphics and a reasonable profit from the Engineering Services Division. However, Laser-Scan is not expected to sustain its exceptionally good first half performance as the year progresses although it will return another profitable figure at year end. Further steps are being taken to address Imtec Engineering Graphics’ losses: the manufacture of mature products is being transferred to Imtec’s Thetford site. The space this will free at the Cambridge Science Park will be sublet. The company says it is devoting considerable time and effort to the improvement of its manufacturing margins but warns that the long haul back to financial stability has only just begun.
