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April 23, 1992

PRESTWICK HOLDINGS TO CONTINUE DIVERSIFICATION AS IT RETURNS TO PROFIT

By CBR Staff Writer

Prestwick Holdings Plc, the Ayr-based manufacturer of printed circuit boards, returned to profit in the six months to January 31. The company showed pre-tax profits of #81,000 compared with a loss of #741,000 last time, and turnover increased by 17% to #13.9m, 8% of which came from exports to the rest of Europe, 5% to companies acquired in October and December. Prestwick says that costs associated with the acquisitions and the gearing up of production at its Ayr and Irvine manufacturing plants were borne in the half year. Chairman Wayne Osman is cautiously optimistic, believing that confidence is returning to the economy, albeit slowly, and he sees Prestwick continuing to diversify to turn itself into a broader-based interconnection group.

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