It was a busy day for the Flextech Board, not only did they officially announce the details of Flextech’s joint venture with the BBC today Flextech And The BBC Finally Shake Hands, they also released the group’s financial results for the year ending 31 December 1996.
Flextech has seen a continuing growth in turnover up from £34,027 million in 1995 to just over £65 million at the end of 1996; this represents an increase of 87%. Gross profits rose only marginally year-on-year from £19,650 million to £21,019 million. Shares in the company fell 21p today, to £7.51.
Chairman, Stanislas Yassukovich, said in his statement: “Flextech has continued to exploit its strong position within the multi-channel TV market both in the UK and overseas. The proposed establishment of joint ventures with BBC Worldwide Ltd represents an outstanding opportunity to consolidate this position.”
Flextech: 0171 813 4100
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