Cray Electronics confirms loss
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Cray Electronics confirms loss
Cray Electronics, the troubled data communications company whose shares have collapsed following a series of profits warnings this year, confimed yesterday that it had made a pounds 14.6m loss in the six months to October. The loss compares with a pounds 10m profit in the same period last year. The problems were due mainly to costs and provisions incurred at Cray Communications, the computer network subsidiary, which recorded a pounds 4.8m loss in the half year.
The new chairman, Alec Daly, made a cautiously optimistic statement, saying that though turnover was 5 per cent lower, orders were ahead of last year. The shares closed 0.5p higher at 47.5p yesterday.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments