Media File: 1983
Sinclair in the News

Financial Times
September 6, 1983

Sinclair Research profit jumps £5m to £13.8m

FOR the year ended March 31, 1983, consumer electronics products group Sinclair Research reports an upsurge in taxable profits to £13.82m, against a previous £8.55m. Turnover for the 12 months doubled from £27.17m to £54.53m.

Established in July 1979 to conceive, develop and market new consumer electronics products, the company is 85 per cent owed by its founder and chairman Clive Sinclair.

He says the figures are encouraging and noted that the company's ZX Spectrum personal computer, introduced in 1982, had become "easily the best selling machine in the UK and in a number of overseas markets." He adds that there remains much scope for innovation in the field and "I believe we will continue to lead the world with future products."

Net operating expenses amounted to £42.03m (£17.98m) leaving operating profits at £12.5m, compared with £9.19m. Interest and royalties receivable were £1.61m (£357,000), goodwill written off £84,000 and the pre-tax figure was after an exceptional debit of £203,000 (nil).

Tax charge took £5.54m (£4.3m), leaving the available balance at £8.28m, against £4.25m.

The directors are paying a 1p dividend, because the chairman believes the company is expanding "so rapidly that I believe the interests of the shareholders are best served by internal reinvestment of the profits."

Shareholders' funds totalled £13.27m (£5.05m) as at March 31 last, and net current assets £9.18m (£3.67m).