Printed circuit board manufacturer Kode International Plc was back in the black with reduced turnover, since it sold its computer services business last December. Interim pre-tax profits were ú635,000, against losses last time of ú515,000. Those losses were made up of ú366,000 profits and a loss on the discontinued DCM Services business of ú881,000. Turnover in the half fell 17% to ú10.2m. Without DCM, turnover was up 13%. Kamtronics, a high-volume printed circuit board manufacturer in the Far East was hit by one of its customers, Race Electronics Ltd, going into administrative receivership, resulting in an increase for bad debt provision, according to the company. The supplier problems cited at the full-year stage (CI No 2,621) are over and they were reported to have generally performed well this time, with the former villain of the piece, a plant in Tianjin in China coming up smelling of roses. Kam Circuits new plant and machinery is now installed, but not yet fully operational. Further investment is planned at the company, which saw good increases in sales and profits, according to the statement. Cash balances at the half-way stage were ú235,000, and gearing was 75%; down 5% on last time. A dividend is still not forthcoming, but the prediction that it will be paid as soon as it is considered prudent remains the same. Continuing progress is the outlook for the second half, according to Kode.
