13 Mar 1997
ICL continued to haemorrhage money last year, but its 1996 loss of #22.9m was a significant step forward compared with the previous year's #193.9m deficit.
The company is bullish about its new annual results, claiming the loss represented good progress in reshaping ICL. Total group revenues to 31 December dipped to #2.9bn from #3.1bn in 1995, but operating loss was slashed from #182.7m in 1995 to #6.6m.
ICL shed some divisions last year, including its electronic manufacturing business D2D. It also handed over volume products to parent Fujitsu.
Chief executive Keith Todd said the company is now on course to handle new business opportunities.
'Six months ago, I stated that the industry of the future would be the information society industry - breaking down the barriers of IT, telecoms, broadcasting, media, consumer electronics and education. We are well placed to build on the sound foundations in 1997.'
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