Telemetrix Plc has increased profits and turnover for the year ending December 31. The group turned in net profits of UKP7.7m, up 77.9% on last time, on turnover up 22.5% to 123.3m. Telemetrix has seen the largest profit growth, 57%, in its part-owned subsidiary GTI Corp, despite a poor fourth quarter due to price pressure. The company is trying to restore its margins by developing products based on the embryonic Fast Ethernet standards and by automating its production facilities in the Philippines. The latter absorbed $3.5m in the year, and will need a further $1.5m in the next 12 months. It saw smaller growth in its UK-based Trend subsidiary, which deals in communications equipment, and grew operating profit by 18%, but had to contend with a slight profit shrinkage in Zetex, its semiconductor manufacturing operation. It has grown non-GTI profits to 30% of group revenue, up from roughly 20% last time, and hopes to increase it if GTI slows down in proportion to the rest of the group. Group cash stands at $11.5m, up by 128%.
