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July 12, 1990

UKP60M-A-YEAR LOGITEK TO TAKE ITS ALTERED IMAGE ONTO THE CONTINENT THIS YEAR

By CBR Staff Writer

Logitek Plc marked its first decade of trading with turnover for the year more than doubled to just under UKP60m. 1989 was a year of considerable restructuring for the group, which now sees its three main activities – distribution, end-user sales and services – organised into separate divisions. Logitek Distribution now includes the three distribution channels of Azlan Ltd – acquired as part of the Advansys group – Altos distributor Microtex, and Logitek Computers, while all training activities for the group have been brought together under the name of Quadrangle. Executive chairman Jim Pickup commented that the other acquisitions made during 1989 – CSM Systems, CSM Ltd (both part of Advansys), support and maintenance company Focalpoint Engineering, and Unix-based publishing software house Microdrive Systems – had all been successfully integrated into the Wigan, Lancashire-based group. The main impact of these acquisitions on the revenue split was slightly to diversify the company away from its main activity of distribution: Pickup calculated that distribution now accounted for 70%, services for 11% and end-user sales for 19%, compared with 89% in distribution, 11% in services for the preceding year. Logitek trades almost exclusively in the UK, with the South East inevitably being the strongest area, but Pickup continued that Logitek was in talks to establish relationships with companies in Europe. In the year just started, Logitek is also looking for other vertical markets to penetrate but has yet to find a quality business at the right price, it says. Total net dividend for the year was 3.9 pence, up from 3.6 pence last time; the share price was unchanged from Wednesday’s close at 135 pence.

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