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July 26, 1988

MBS THE CLOSURE OF P&P

By CBR Staff Writer

In an oblique reference to the closure by MBS Group Plc of its distribution arm P&P Plc chairman Roland Smith said funds raised at the company’s flotation last April may be used for acquisition and expansion, saying the opportunities for which have been enhanced by recent changes in the distribution market: speaking at P&P’s first half year results meeting Roland Smith said the 68% increase in pre-tax profit was driven by the company’s core business of corporate and wholesale distribution; Broadsword Systems Ltd and Training International Ltd, both acquired last April, have expanded the group’s network and training facilities according to the professor, who also expressed satisfaction with the group’s Apple systems subsidiary Principal Distribution Ltd, launched earlier this year.

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