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November 2, 1988


By CBR Staff Writer

Accountancy software specialist Pegasus Plc yesterday posted pre tax profits up 59% at UKP2.1m in a year that has seen the group focus on its two core activities, Pegasus Software and Pegasus Supplies. The last of its loss-making Brikat micro distribution business was disposed of before the year began and since then the board has concentrated on restructuring the group and its management under the guidance of executive deputy chairman Derek Moon. The stationery division of Days Office Supplies, now re christened Pegasus Supplies Ltd, was sold for UKP447,000 cash due to low margins, and it will now concentrate on selling computer forms and related computer sundries. Keith Hall, formerly sales and marketing director of Apple UK, and Davis Fraser, previously managing director Northern Europe for Microsoft UK, were appointed as non-executive directors. While Clive Booth, formerly director of UK operations for Computerland Europe SA, is responsible for Pegasus Software and Martin Ruda from Rank Xerox Supplies is the new managing director of Pegasus Supplies Ltd. Pegasus Software – which the company claims has 40% of the dealer market – was responsible for sales of UKP5.6m and profit of UKP1.7m; while Supplies accounted for profits of UKP340,000, on sales of UKP2.0m. The company is in a strong position to make an acquisition: it currently has a cash balance of UKP2.6m, plus a UKP5m three year loan facility and admits it is actively engaged in negotiations with a number of prospective companies.

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