Analysts are already frantically scaling back their forecasts for what was to have been IBM’s year of strong recovery in 1988, but NCR Corp sees so little sign of recession in its own business that it is confidently forecasting double digit growth in both turnover and profits for 1988. It expects to set new company records for sales and profits, chairman Charles Exley told Japanese securities analysts in New York this week. Our plans and expectations call for double digit revenue growth in a constant currency environment, and earnings growth that will outpace revenue growth, he said. Nevertheless he added a note of caution, saying that the forecast was conditional on there being no significant slowdown in the US or world economies. Although NCR will approach 1987 with caution as a result of the decline in financial markets, we see no need at this time to cut back our programmes for progress. Research and development expenditure in particular will increase in 1988 by double the average 7% of the past five years. In the first nine months of 1987, net rose 27% to $258m on turnover up 15% at $3,820m after a 1986 that saw net up 9% at $336.5m on turnover that rose 13% to $4,880m.
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