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July 17, 1991

MICROGEN HOLDS FALL IN INTERIMS TO 4%

By CBR Staff Writer

Radlett, Hertfordshire-based Microgen Holdings Plc has managed another relatively stable six months, with profits down 4% on sales up 13%, if the discontinued businesses Microgen Equipment & Supplies and Imagen are excluded from last year’s results. This year’s results, however, include the newly-acquired computer output microfilm, COM, businesses of Microscribe Business Systems and Hoskyns (CI No 1,596). Microgen has ploughed UKP162,000 into rationalising the two businesses, and merging some existing operations into single sites. Some UKP126,000 of the above represents rent and rates for vacated UK properties that the company is having difficulty re-letting if these buildings remain unlet, Microgen will incur further costs of UKP231,000 in the second half, and in a full year the wastage could amount to over UKP500,000. The computer output microfilm business has held up well, although Microgen admits that sales of its new Invoice Management Service have been below expectations. Germany is said to be recovering and set is to make a good contribution this year, while the Scandinavian distributorship, Anacomp, turned over a disappointing level of capital equipment sales. On the up side, Microgen claims to have signed a letter of intent with a Scandinavian bank to provide a bureau service – the contract is said to be of such a size that it will have a material impact next year.

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