Kode points to profit below expectations
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.KODE International, the computer group, has issued a profits warning for the year to 31 December. Stephen Day, chief executive, said profits would be higher than last year's pounds 1.03m before tax but below market expectations, writes Diane Coyle.
The reason for the caution is stiffer competition in the computer servicing business, which accounts for about a third of Kode's pounds 21m turnover through its DCM Services subsidiary. Computer firms such as Apple, DEC and ICL have been entering this market themselves, squeezing margins.
The company's other two businesses, both making printed circuit boards, continue to perform well, according to Mr Day. One of them is a joint venture company in China. Tom Eliot, an analyst at the brokers Greig Middleton, said: 'It is a very exciting business and it is where most of the future growth will come from.'
Kode has held its dividend, which will be 6.0p per share. The share price closed down 4p at 138p.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments