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Share price falls to 30p on stock market

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The chief executive of UK distributor Datrontech said today that rumours it was going out of business were absolutely baseless. Its share price on the UK stock exchange stands at 30 pence today, compared to a high of £3.60 when it floated three years ago. Mark Mulford, who said his job is to convert Datrontech from an entrepreneurial startup business into its adolescent stage, said the reports were the "downside of a small capped stock". The company, which is likely to make £4 million profit for its whole financial year, had suffered from the fact that DRAMs, which it distributes, had "gone into freefall" last year. But Mulford said that vendors it distributed, including Compaq, Intel and HP had all suffered their own hiccups this year and relationships with these companies were all still good. "Datrontech is transitioning from an entrepreneurial company and the reason I'm here is to organise the change management," said Mulford. His company has grown its SME business while subsidiaries like Data Connectivity and Portable Addons remained highly profitable, said Mulford. "Share prices can go up as fast as they go down," said Mulford. "This is still a young sector of the market." Datrontech's share capital is thinly traded, with much of its stock still held by the group's founders. ® Click here for more stories Click for story index

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