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lynx-dev sleeping partners

From: Philip Webb
Subject: lynx-dev sleeping partners
Date: Fri, 13 Nov 1998 00:38:57 -0500 (EST)

Financial Times (London) 981113

LYNX: Software group `positive' about prospects -- Maggie Urry

A combination of organic growth and acquisitions helped Lynx, the
software group, to a  35 %  increase in pre-tax profits for the year
to September 30.  Profits rose from £ 9.81 M  to £ 13.3 M ,
on sales up 50 % to £ 181 M .

Stewart Douglas-Mann, chairman, said the group was "extremely positive"
about its prospects. Richard Last, chief executive, said the order book
amounted to £ 22.7 M  at the year end, up from £ 12.4 M  at the start
of the financial year.

Operating profits from continuing businesses rose 25 % to £ 12.8 M ,
and acquisitions, notably Tenhill, which was bought in April 1998,
contributed £ 1.1 M .

The interest charge was up by £ 484 K  to £ 713 K , reflecting
the debt-financing of acquisitions.

Mr Last said most of the group's activities had achieved significant growth
in sales and profits. The only difficult area was automotive systems,
where the main customers are the large carmakers. He said a number
of manufacturers had delayed projects, and so the division "did not perform
to an acceptable level". Nonetheless, the group remained confident
this market offered growth.

Lynx this week acquired Exepos as a base for a new communications division.
Mr Last said this could grow into a "substantial" business which would
"quickly become a significant contributor to group profits".

Earnings per share rose 27 % to 8.67 p , and a recommended final dividend
of 1.7 p  gives a total 2.25 p .

  Lynx --
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ELECTRIC   /] [] [] [] [] []|  Centre for Urban & Community Studies
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