An unsteady year has still managed to yield a positive set of financial results for Stordata Solutions Plc, with the holding company feeling confident that its fortunes are on the up as it continues to focus more on the computer side of its business. The information technology group saw profits of 1.0m pounds in the year to November 30, compared with losses of 414,000 pounds reported at the same time last year, while revenues increased 108.3% to 12.9m pounds. The year saw the group abandoning its start-up company which was originally intended to act as an agent to bring personal computer assemblers together with retailers (CI No 2,856). Patriot Computers was closed in July because it wasn’t living up to expectations, according to financial director Tony Carss. Stordata has also experienced management difficulties culminating in the dismissal of former chief executive Stephen Sowery in May following his appointment the previous November. Of Stordata’s remaining trading companies, the Primary Distribution Ltd data storage distribution business saw profits up 19.0% to 1.7m pounds, and Laserline Car Alarms UK reported profits up 137.5% to 380,000 pounds. The company hopes that its acquisition of Primary Network Products Ltd from Fujitsu ICL Ltd in December will propel it further forward into the information technology market, with interests focusing less on its automotive aftermarket products. Carss described the results as satisfactory and said: It’s encouraging that both of the trading operations have improved their performance. The company says it has witnessed a positive start to the current fiscal year and it hopes to see profits from its most recent acquisition bearing fruit in the coming months. The company is proposing a 0.5 pence a share dividend.
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