For nine consecutive years since its flotation, the pre-tax profits, earnings per share and dividends of Swindon, Wiltshire-based time recording and communications group Blick Plc have risen consistently, and this, the tenth year is no exception. The company’s two divisions, Time and Communications, have both performed well this year, contributing to a 32% increase in net profits on turnover up 11% at 56.8m. The Time division offers a range of time management systems from basic employee clocking on systems to badge-activated, software-driven systems using magnetic strip badges capable of interfacing with a manufacturing resource management system. The communications division provides a range of systems including radio pagers, fire alarm systems, basic door entry systems and also closed circuit television security and door entry systems. The company also offers a bundled rental and maintenance service on any of its systems, and says that at least 60% of its business comes from rental income, giving it a relatively predictable revenue stream. Blick’s managing director, Ian Scott-Gall, says the rental business provided a very healthy, steady, on-going business, and had contributed to the company’s steady growth over the years. However, he admitted, it meant the company was not likely to have a rocket success with this business, rather it gave business a solid base upon which to build. Scott-Gall said the company was always on the look-out for opportunities, and may well be looking for the rocket opportunity through acquisition. Its acquisition of South African telephone rental company TR Services Pty Ltd a year ago (CI No 2,557), has earned it ú220,000 profit in 11 months this year, and Scott-Gill said there is potential to considerably improve the margins in this business. The company has striven to reduce its gearing ratio to zero by the first quarter of 1996 (CI No 2,315), but says that due to the seasonal nature of its cash flow, gearing was actually up to 41% at the year end, but should be eliminated by March 1996. However, it warned that it could rise again by the end of next year, although to lower than the current level. The company will pay a final dividend of 13 pence, up 13% from last year.
