Standard Platform Holdings Plc had another difficult year with pre-tax losses of UKP405,368, for the year to March 31, after provisions for reorganisation of UKP98,000 and losses from discontinued operations of UKP96,078 (DocuFile Inc, disposed of in February 1993). This was improved from last time’s UKP847,471 loss, but in September (CI No 2,014) the firm announced a return to profitability with net profits of UKP76,041 for the first five months. Turnover for this Blackburn, Lancashire developer of Unix software for optical disks was up 70.7% at UKP2.7m, but chairman Peter Stephens said the downturn in orders continued. More positively he said two key jobs that had disrupted cashflow last time had since been accepted and paid for by the customers. In April the firm lost Bob Astley, its managing director who left to pursue other interests, and it took up the cost-cutting axe. The Andover, Hampshire sales office opened at the company’s birth in 1988 has been closed – it was in the middle of nowhere, said financial director Duncan Hopkinson and business will be refocussed on the parcels and distribution sector. And where sales were previously made direct, most will now be made through resellers. The effects of the restructure will not be felt until the next financial year starting October 1. The chairman also said: Current contracts are such that the company has a backlog of over UKP400,000… since most of this work will not be invoiced until the next financial year the Company remains dependent on the continued support of its bankers. The firm is changing its accounting period and will present audited accounts for the 18 months period to September 30 1993.
