Losses push Tadpole into slide
Friday 01 December 1995
The share price of Tadpole Technology, the beleaguered manufacturer of notebook computers, dropped 10p to 78p after the company announced post- tax losses of almost pounds 10m in the year to the end of September. Despite the losses, which compared to a profits fall of pounds 1.3m the previous year, the company said yesterday that it still hoped for growth to resume in 1996.
Richard King, Tadpole's chairman, admitted that mistakes had led to the past year's decline in sales to pounds 24m, down from pounds 32.5m in the previous 12 months. These included IBM's withdrawal from selling a Tadpole computer notebook, while marketing projections for other company products were too optimistic, he added.
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