Telemetrix up 64% and bullish for rest of decade

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PROFITS before tax at Telemetrix rose 64 per cent to pounds 16.1m in 1993, on turnover of pounds 123m. The telecoms and networking group forecast strong growth in its markets until at least the end of the decade as more businesses adopt PC networks linked through public telephone systems, writes Diane Coyle.

The biggest contribution came from its 58 per cent US subsidiary GTI, with operating profits of pounds 12.9m. GTI, a specialist in communications products for networks, faced a price war in the last quarter, but the company said a new plant in the Philippines would cut costs.

Zetex, the group's UK subsidiary making specialist semiconductors, saw little change in profits. It acquired a factory in eastern Germany in July to meet strong demand. Trend, making telecommunications testing equipment, had lower sales because of its withdrawal from defence-related activities, but operating profits rose 18 per cent.

The shares closed 8p up at 137p.