Southampton-based Gresham Telecomputing Plc has reported its first figures since Gresham Computer Holdings Ltd reversed into Telecomputing Plc earlier this year. The period reported to March just predates completion of the merger, so the figures are for Telecomputing only – but the group does offer proforma figures for the combined businesses that show a pre-tax profit of UKP293,000 on turnover of UKP4.9m. Group chairman S J Green says that the underlying causes of Telecomputing’s UKP79,000 losses have been addressed but that investigations into Telecomputing’s business have revealed that Telecomputing may not be the legal owner of any of the shares of Merrion Gates – consequently, the position regarding loan write-offs is being reassessed. The merged companies, which now play in the ICL Plc and Unix transaction processing markets, have felt the recession and did not achieve the predicted market penetration for the Unix transaction processing monitor tp+ but prospects remain good. Furthermore, the level of software licence sales has been maintained and sales of development projects are at record levels, says Green. He is optimistic about the future, believing the company to be well-placed to meet the expected upturn in the economy.
