The UCL Group Plc counts the cost of relying too heavily on the financial sector with pre-tax profits plummeting down 93% to UKP105,000 after the crash of October 1987. Nevertheless, following the motto that every cloud has a silver lining the company is refocussing on niche markets in the financial sector, announcing that recent orders for Minder, a debt litigation package, are on the rise. The Group’s turnover is up 32% thanks chiefly to the acquisitions of Computer Factors and Northern Computing made at the end of 1987. The computer maintenance division saw revenues rise by 10% to UKP5.7m with third party maintenance doing particularly well. The office products division, however, was not so successful with the facsimile and photocopier section showing losses. Consequently, this part of the business was sold in March for the then book value of UKP133,000. The Group will continue to be run by the current management team who will ensure that the Group maintains its resumed growth.
