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Taking stock of Sykes-Pickavant
Page 100
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• Sykes-Pickavant Group PLC has applied to the Council of the Stock Exchange for the grant of permission to deal in Ordinary Shares of the company in the Unlisted Securities Market.
The directors forecast that at the end of this calendar year group profit before taxation will be not less than £1,450,000 — 10% better than last year. Admission to the market would assist in growth by the enhancement of its corporate image, they say.
"In addition, establishing a valuation for the company's shares will more readily allow for their issue as consideration for the acquisition of further companies in related fields, although no such acquisitions are at present in contemplation," says a statement.
Sykes-Pickavant, based at Lytham St Armes, Lancashire, designing, assembling and marketing specialised hand tools, accounts for 70% of the group's turnover.