Compaq's share prices dropped over four per cent to close at $30 on 2 March. The PC vendor's prices fell $1.3 after investment bank analyst warnings of the PC price war eroding margins. It was understood the market was reacting to US stock broker Merrill Lynch's decision to lower its rating from 'buy' to 'accumulate.'
Psion reported a 29 per cent fall in its pre-tax profit of z11.4 million, down from z16 million the previous year, for the year ended 31 December 1997. Sales increased by 15 per cent to z142 million from z124.2 million in 1996. Psion's share price dropped 6 pence on 6 March to 306 pence, from the previous day's close of 312.5 pence. The profit announcement was in line with expectations but the company has warned of lower than expected sales for handheld computers.
Tetra's pre-tax profit for the six months ending 30 November 1997 was up 27 per cent to z1.36 million, from z1.07 million the previous year. Its sales grew 35 per cent to z13.3 million, from z9.9 million for 1996. The company said its results are in line with forecasts made at the time of its flotation. Tetra's share prices were unchanged from end of play on 6 March at 242 pence.
ISA has announced a 20 per cent fall in pre-tax 1997 profits to z7.9 million from z6.3 million. Despite turnover rising six per cent to z257.5 million, from z243 million, profit fell for the components and consumables distributor after increased costs and interest charges. The share price, which fell 43.5 pence to 96.5 pence in November, closed at 96.5 pence on 6 March.
Sherwood International's share prices leapt 82.5 pence to 690 pence on 3 March. The rise followed the announced increase in pre-tax profits to z3.1 million in 1997 from z2.1 million the year before. The specialist computer services company's shares closed at 740 pence on 6 March.
Olivetti's impressive 1998 share performance is set to lose speed, analysts have warned. By 4 March, its shares showed a two per cent drop at 1,905 lire on profit taking. The group's share value has more than doubled since the start of 1998, but is expected to decrease due to needing to fall in line with Italy's telecoms sector.
Delphi has announced preliminary results for the year ending 31 December 1997. Pre-tax and pre-exceptional item profits rose 15 per cent to z14.1 million from the year before. Sales grew 31 per cent to z276.9 million from z210.6 million in 1996. Shares stood at 700 pence on 6 March, up 7 per cent on the previous day's close of 695 pence.
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