Reading, Berkshire-based electronics components distributor Norbain Electronics Plc has seen pre-tax profits rise a phenomenal 1,110% to UKP121,000 because of an improved performance in the security market, on turnover down 53% to UKP11.6m which reflects last year’s sale of the Computer Sales Division. The imaging division, renamed Norbain Security has really been this year’s star performer, with Norbain Technology awaiting the results of a refocussing of activities into the niche markets of Opto-electronics, Sub-systems and Components. The company is, of course also selling its Computer Maintenance Division to FKI Data Recording, the FKI Plc subsidiary (CI No 1,237), and says it will be on a firmer footing when all of the restructuring has been completed. The Computer Maintenance Division was sold to FKI for UKP1.2m on August 1. It contributed UKP23,000 in profit and UKP1.1m in turnover to Norbain’s overall figures for the year. The rationale behind its disposal was quite straightforward, since the Division has really been out on a limb following the sale of the Computer Sales Division last year which it was intended to support when it was acquired from Audiotronic Holdings Plc in 1985 for UKP516,000. The net proceeds of the sale are being set against Norbain’s borrowings, and the group says it will continue to be in the market for acquisitions that will enhance its activities in the distribution of electronic components and security products.
