Luton, Bedfordshire-based Spectrum Group Plc is to strengthen its computer consumables division, Match Data, through the acquisi tion of the entire share capital of computer supplies distributor Russell Howard & Co Ltd. Russell Howard reported pre-tax profits – after dividends – of UKP33,139, on sales of UKP1.2m in the year ending August 31 1987. Unaudited accounts for the 10 months from September 1 1987 show a pre-tax profit of UKP73,615 on sales of UKP1.0m, while net assets were reported at UKP74,855. Initial con sideration will be satisfied by payment in cash or issue of ordinary 5p shares to the value of UKP214,920. A further 199,000 shares will be issued in June 1989 and 1990 to the sellers pro vided Russell Howard’s pre-tax profits are not less than UKP87,500 in both years. Match Data has bases in Leeds, Isleworth, Weston-Super-Mare, Hainault and – with the new acquisition Sevenoaks, Kent. Spectrum has had a chequered history, and despite nearly being brought down by its computer distribution business three or four years ago, decided that that wqas never theless where its future lay, and it shed its other interests, notably in the photographic distribution field. Since then, it has succeeded in transforming its outlook and returned to profit.
