Belper, Derbyshire-based computer supplier Vistec Group Plc has reported a startling change in fortunes for the six months to October 31. Pre-tax profits soared 1,195% to UKP1.0m on turnover up 2.6% to UKP14.2m. Chairman Bob Morton says that these results were achieved despite unfavourable trading conditions. He is watchful of operating costs and the maintenance of a positive cash flow while remaining eagle-eyed for suitable acquisitions. Morton outlines the terms of the October acquisition of communication software specialist Ceemore Ltd from AIMsoft International Ltd, a consideration of up to UKP150,000 with UKP100,000 paid on completion. He says that at the period end and after the acquisition, the group had cash of UKP5.0m and medium and long-term debt of UKP3.0m. Morton remains confident in the future prospect of the group and in particular its ability to respond to economic recovery.
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