Psion has issued its six-month figures, which show a profit drop of #2 million over the same period last year, but higher turnover.
The company made pre-tax profits of $4.1 million on turnover of #64.4 million for the six months to 30 June, compared to profits of #6.5 million on turnover of #53.7 million for the same period last year.
David Potter, chairman of Psion, put the drop in profits down to the increased strength of the pound against other currencies.
Although there have been production difficulties delaying supplies of Psion?s new Organiser 5, Potter said that demand for the product was high. ?We are on target to reach planned output levels for the fourth quarter of the year,? he said. ?The outlook is for strong sales in the second half of 1997.? But he said profits for the whole year are likely fall short of last year?s figure of #16 million.
?The most immediate challenge faced by Psion is to meet the very heavy demand for the Series 5,? Potter said.
He said that sales of Psion palmtops grew by 27 per cent in the six months, representing turnover of #42 million.
Subsidiary Psion Dacom was a strong performer within the group, he said. Its PC Card modems brought in #13.77 in sales in the six months but industrial products were static at #8.75 million turnover because of a move to new premises.
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