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Technology / AI and automation

MICROVITEC EXPLAINS IMPROVEMENT IN MID-TERM PRE-TAX PROFIT

Management at colour display systems manufacturer Microvitec Plc in Bradford, West Yorkshire outlined three main rasons for the 77% improvement in mid-term pre-tax profit (see Company Results, p3): the company saw increased shipments of the Series 7 auto scanning monitor, particularly into the financial information centre and an increasing level of sales to PC based computer aided design applications in the first six months of 1988, there was a UKP100,000 pre-tax profit from Microvitec Inc in the US plus a 55% increase in export sales, excluding the US, rising to UKP1.1m; the profit was achieved despite spending UKP180,000 on the introduction of new products, however the directors say they expect turnover in the current half to be down.

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