Feeds

Crashing losses in Poland hit Datrontech’s bottom line

Heads roll as debt soars and interest payments rocket

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

Unexpected losses in Central Europe have been blamed for a breathtaking fall in profit at Datrontech. For the extended year ending 4 January, the company recorded a pre-tax profit of £2 million, compared with £6.1 million the year before. Turnover for the year stood at £248.8 million, slightly up on last year’s £220.5 million. The Datrontech Group saw its net debt rise from £8 million to £18.1 million year-on-year. Interest payments shot up from £940,000 for the year ending 31 December 1997, to £2.5 million. It has secured a £6.4 million loan with NatWest bank, spread over five years and has £23 million overdraft facilities in total with four different banks. Its Polish and Czech subsidiaries let the side down by turning in a combined loss of just under £2 million, which Datrontech chairman, Ray Way, described as “a huge disappointment.” The general manager and the financial controller of the Polish division have both now been replaced – discrepancies between the management accounts and reality were commented upon in the Datrontech statement. Way described his first year as Datrontech chairman as “eventful” but said the Group had experience strong sales in its networking businesses, which it was hoping to capitalise upon in 1999. Once heavily reliant upon memory distribution, Datrontech is now moving out of this market. In 1997 memory accounted for 32 per cent of Datrontech’s turnover. This fell to 13 per cent in 1998 and is expected to be less than seven per cent in 1999. ®

Website security in corporate America

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Bono: Apple will sort out monetising music where the labels failed
Remastered so hard it would be difficult or impossible to master it again
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.