Shares in VideoLogic Group Plc suffered a slight dip, falling 3.5 pence to 108 pence by noon yesterday on the announcement of year-end figures. The King’s Langley, UK video processing chip designer and board manufacturer that counts NEC Corp among its shareholders, with about a 2% stake, reported pre-tax losses of 7.5m British pounds, down from 8.7m pounds last time, on revenue that edged up 11% at 13.6m pounds. Gross margins fell by 10% during the year. Following the retirement of Derek Maclaren after a 10-year stint as chairman, Geoff Shingles takes over the reins. He said the increased revenue was achieved primarily by the sale of new multimedia graphics boards, including the 64-bit GrafixStar range launch in May 1995, followed in October by the announcement of the GrafixStar 400, in March by the GrafixStar 600. As planned, the company reduced administrative and sales expenses by 36% during the year. The three highest paid staff in the US have since parted company, as have an unspecified number of staff in the UK, and the company said it intends to continue to trim overhead levels this financial year.
