TDS Circuits Plc of Blackburn, Lancashire, which manufactures blank printed circuit boards, has reported figures for the 10-month period to December 31. When annualised they show a turnover slightly up at UKP5.4m. Pre-tax and net losses are down to UKP496,000 from UKP779,000 last time, although annualised losses this time would be approximately UKP578,700. The company, which changed its year end to come into line with the rest of the group – it is now 46%-owned by the Tecnicomp Group of Italy, which is in turn part-owned by Ing C Olivetti & Co SpA – would not release a gearing figure although its accumulated deficit weighed in at UKP5.2m. Its reduction in losses is a continuation from last half, when it saw losses reduced by half. It is hoping to see some return this year on the UKP400,000 investment that it has made in increasing its manufacturing efficiency in the 10-month period. The company, which has seen overseas sales decline to 40% of its overall business from 50% since the first half of 1993, has been increasing its investment in the UK, targeting telecommunications customers, although it was coy about revealing names.
