London SE1-based distributor Office & Electronic Machines Plc has, as forecast, reported a pre-tax loss of nearly UKP2m on turnover down 23% to just over UKP19m for 1988. Part of this loss (which is an improvement on last year’s figure of UKP4.0m) is accounted for in the UKP550,000 cost of closing down the office equipment dealership of BBM, a company that was acquired in an insolvent state two years ago. The company’s chairman D G Hawkins is reporting a see-saw performance for 1989, with the first quarter showing sales ahead of target and the second quarter hit by interest rates. He does, however, have high hopes for the third quarter because of the company’s new dealer development and its Key Dealer Programme. But no firm predictions of a return to profitability in 1989 are being made.
