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March 22, 1988

ISTEL INCREASES NON-ROVER GROUP BUSINESS BY 36%, DOUBLES PROFITS

By CBR Staff Writer

Istel Ltd, the Redditch, Worcester-based systems company, has increased its non-Rover Group business by 36% and more than doubled its profit since it was spun off from the automobile manufacturer in June last year; Rover accounted for only 57% of Istel’s total sales in 1987 compared with 64% in 1986, and the company saw pre-tax profit was up 131% at UKP5.0m for the year to December 31, turnover rose from UKP60.8m to UKP70.2m, while earnings per share soared 51.6 pence from 7.1 pence.

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