Carlton Communications Plc, the London-based television, video and film media group that owns Quantel, developer of the computer-based Paintbox television graphics generator, has done well to recover its position in the first half of 1992, after a struggle to maintain profit levels during the 1991 financial year. Pre-tax profits for the six months to March 31 were up 7% at just under UKP50m on revenues that grew 13% to UKP325m, including a share from associate companies. The Video and Sounds Products division, of which Quantel is a part, however, reported pre-tax profits down 13% at UKP8m on sales down 1.5% at UKP62m. Group chairman Michael Green notes that, while down on the same period for the previous year, the division’s performance has improved substantially on the last six months of 1991. The market is described as still difficult, but Quantel, Abekas and Solid State Logic have in the last few months all announced new products which have succeeded in reaping in orders. Quantel’s concurrent editor, Henry, was extremely well received at a show in Las Vegas in March, the chairman reports, even overshadowing the division’s other new product, Hal. No mention of publishing software developer Miles 33 Plc, which was acquired with UEI Plc in 1989. Carlton remains financially strong, with no gearing and UKP146m net cash at the period end. Green remains cautiously optimistic that the second half of 1992 will continue the upward trend of the first six months.
