Meridian International Ltd says that by refocussing on its core leasing and trading activities, it managed to turn in a profit of $5.1m against a loss last time of $20m, even though turnover – as a result of disposal of non-core activities – fell 28% to $480m; leasing business also fell 20% to $475m but gross margin on leasing rose slightly; employment was slashed, and Meridian ended the year with 210 staff, down from 530 in 1989.
