MMT Computing Plc, the London EC-based software house, is not proud to report profits for the full year down by a third to UKP1.3m on sales down 21% at UKP5.9m. Use of staff resources was reported to be lower than usual, and margins under great pressure. MMT is cagey about putting numbers to its staff, but we know that several cuts were made in the first half (CI No 1,670), and some more have been made since. The company still can’t manage to shake off its two unwanted leased premises, which chairman Mike Tilbrook, now having lost all patience, describes as a very costly irritation. MMT’s core business, run from London, still contributed three quarters of the group’s business, though figures were down on last year, while the South East’s drop in profits was comparatively modest. The relatively new MMT Computing (AS) Ltd subsidiary had an encouraging and profitable second year, while MMT Computing (Training) Ltd continued to trade at a loss, though this was slightly reduced over the previous year. Keeping a brave face, Tilbrook says MMT remains in excellent shape for the future. The company is trying hard to make the best of its new connection with Axime SA in France (CI No 1,670), seemingly though to no avail so far. Cash in the bank stands at UKP3.6m, and the board is recommending a 2.2 pence dividend.