Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

Vision Group's sales offset R&D pain

Lucy Roberts
Thursday 28 September 1995 18:02 EDT
Comments

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

LUCY ROBERTS

Fulfilment of target sales helped offset some of the pain from the continued heavy investment in research and development by Scottish high technology company, Vision Group.

Best known for its camera-on-a-microchip technology, the group reported an anticipated loss of pounds 1.50m in its first year as a fully listed company compared with pounds 0.7m in 1994, although healthy sales of its new customer counting camera helped bump turnover up to pounds 1.73m from pounds 1.15m in 1994.

Chairman James Miller said that he expected a substantial increase in turnover next year as further products become ready for the market.

Miller warned, however, that a profit for the company was at least another year away as it planned to continue with its policy of substantial investment in product development. Founded in 1990 by Peter Denyer, Vision has up to pounds 7m to enhance its management and infrastructure as well as further develop the world-leading technology which integrates image sensing and image processing on to a single microchip.

It raised pounds 2.5m through a private placing in December 1994 and pounds 4.5m from its flotation this April. Its year end net cash balance totalled pounds 4.6m.

Although its R&D is UK based, over 80 per cent of business comes from overseas, including Asia, Japan and the US.

After a sparkling stock market debut in April this year the market remains undeterred by Vision's loss and marked the shares down one to 161p.

Commercial director Roy Warrender is banking on a new colour camera on track for launch next year to enhance turnover further.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in