Instem Plc, the Stone, Staffordshire-based control systems developer and manufacturer managed to report a 13% increase in profits to ú1.1m despite a fall in turnover of 13% to ú16.8m. It explained the fall as a result of the projects nature of its business. Finance director David Sherwin said last year’s turnover figure of ú19.3m was unusually high, influenced by a single ú6m order and the actual work level at the moment is at its highest. The order intake for the fiscal period ended December 31 1994 was a record ú22m, chairman David Gare said in his statement and this should result in an increase in turnover in the current year. The systems side of the business saw a slightly lower level of contract activity as it concentrated on three main projects. One of those, the Datatox F1 system for testing the toxicity of foods and drugs for pharmaceutical companies started to be delivered after a delay in development of over a year. This system, along with the Substation Automation System for the National Grid Company Plc and the Remote Management Unit for the water industry which is being developed with North West Water Ltd, is expected to play a key part in the company’s development over the coming few years. By contrast, the Electronics Manufacturing side of Instem’s business has been busy. Instem saw an increase of more than ú200,000 in cash balances during the period. Earnings per share were 16.8 pence, up from 14.8 pence last time and the directors recommend a final dividend of 2.1 pence, making a total of 3.5 pence for the year.
