Cambridge Electronic Industries Plc has turned in a strong end of year financial performance, thanks largely to its defence and instrumentation division, with pre-tax profits up 19% at UKP15m on turnover up 17.5% at UKP172.8m. The division increased sales by 27% to UKP42.1m and profits by 78% to UKP5.2m as Graseby Ionics forged ahead with its advanced IMS chemical agent monitor of which the company expects great things in the future. Cambridge’s electronic components division is poised to capitalise on its US acquisitions of CRL Components and Dialight, but was brought down by unusually heavy relocation costs incurred in Elec-Trol. Aside from the placing of a US presence the year also saw this division setting up a joint venture between the Japanese manufacturer Tamura and its own Hinchley business to target the European market for transformers and power supplies. Cambridge electronic components will focus on the manufacture of capacitors in the coming year having just announced the acquisition of RIC, a manufacturer of AC capacitors, to complement the activities of PED Capacitors. Cambridge Electronics bought RIC Ltd from Williams Holdings Plc for UKP6.95m and the company will be merged with PED Capacitors to form Cambridge Capacitors Ltd, based at Romsey, Hampshire. The company’s interconnection technology sector put in a steady performance as the Varelco and Flexicon businesses were successfully integrated, while Bepi Circuits, Keltek Electronics and Flexible Technology all put in creditable figures. Cambridge Electronics does, however, have a casualty to report in its Specialist Companies division. CI (Polymers) made a loss and is to close business; but Graseby Medical and Tasc Drives are both flourishing. As for the future, Cambridge Electronic is generally pessimistic about the UK market but expects its US components side of the business and its other moves in the international market to keep it buoyant.
