Market newcomer Centregold Plc did the electronic and high-tech new issues sector no favours when it issued a stunning trading statement on Tuesday warning that trading for the six months to January 31 has been adversely affected by a significant set-back in demand for cartridge video games in the European and American markets, so that turnover for the period slumped some 23% to around ú41m, leading to a likely pre-tax loss of ú3.6m, ú2.9m of it from stock provisions. Problem of course is that everyone among the games-playing fraternity is keeping powder dry and cash in pocket in preparation for the promised 32-bit and 64-bit CD-ROM machines, so that 16-bit games are becoming a glut on the market – and the wait may prove so long for many that they will have found something more entertaining to do once the new systems do arrive. The shares, which were floated in November 1993 at 125 pence, fell 37 pence on the news to hit a new low of 60 pence.
