Standard Platforms Holdings Plc is clearly struggling to keep its head above water. For the year to March 31, pre-tax losses amounted to UKP847,471 up from losses of UKP548,302 last time, while turnover rose a mere 2.3% to UKP1.6m. The disappointing result was attributed once more to the failure of DocuFile Inc in the US to sort itself out. Apparently, operations here have been dramatically scaled down and must be self-sufficient henceforth. The recession is blamed also for hitting the company hard, but restructuring measures are said to have been taken. Nonetheless, there are glimmers of hope are on the horizon. The developer of Unix-based software for scanning, storing and retrieving documents on optical disk claims to have secured a number of fairly major contracts and quotes an order back-log of UKP1.4m. This impressive 311% rise in orders came about mainly in the second half of the year; margins have also improved by 4%. The Blackburn, Lancashire-based company is seeking shareholder approval to increase its share capital, though by no more than 5%. The aim is to raise permanent share capital to fund current work and, so Standard is hoping, to fund increased working capital requirements due to planned expansion in the future.
