Tulip Computers NV says that profits for 1989 fell to UKP5.3m from UKP7.5m because of the costs of establishing distributor and subsidiary operations. The company’s turnover rose by 15% to UKP109m from UKP95m, and exports grew to 43% of total revenue. The company now has eight European subsidiaries and 15 distributor agreements. Tulip appointed new distributors in Finland, Sweden, Austria, Morocco, Yugoslavia, and West Berlin. It also says that research and development costs were very high during 1989, largely because of the new 80486-based machine and several other products. The new operations have also increased staff numbers, and the total now stands at 548, up from 414. Tulip says that the personal computer market is set to grow by 15% to 20% per annum, and it expects that expanded operations will show a recovery of profit in 1990.
