Scotty swings into profit as new focus pays off
Thursday, April 17, 2008
Telecoms specialist Scotty, turned a profit in the first six month of the year, with the company claiming progress on the back of the decision to sell off its telehealth business last June.
In the six months ended 31 January 2008 Scotty posted a maiden pre-tax profit of £304,000 up from a loss of £379,000 in the same period last year.
During the period the company secured a €13.3 million product improvement order for the Eurocopter CH53 along with a €3.2 million contract with Diamond Aircraft Industries for the Venezuelan government.
Rt. Hon The Lord Trefgarne, chairman of Scotty, said the company had made strong progress in the government, military and aviation markets, building on the platform created by the disposal of its telehealth activities.
He said that it was the fourth quarter that is expected to see the greatest advance in profitability, with two of its Diamond contracts due for delivery during that period.
Scotty said it anticipated that the market expectation of an operating profit of £600,000 for the full year would be exceeded.
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