Full day of Computer Company visits to Hitech, Xitan, Byte Shop and LDR to find Kode’s initial window dressing moves a bit dodgy whilst I was feeling ill
Up quite early and to watch the morning breakfast TV coverage of the Olympic Games. Then off by car for my first appointments in Hampshire, firstly all the way to Southampton and The Byte Shop. The staff are young and new but they have just managed a record £200K month for July. Then to Hitech and Tim Roberts. An interesting two hour meeting and lunch courtesy of Hitech. Tim has followed the progress of BMMG and Comart over the years and felt more than a competitive rivalry. But now he looks forward to cooperation and involvement though only at first by means of membership rather than participating in the organisation. Off to Xitan and to meet Geoff Lynch and Derek Weatherby and to say goodbye and thank you. I learn that the new Kode management has started on the wrong foot with a good combination of indecision and conflict.
They would seem to need a good first half performance which bodes ill for the supposed recovery of Kode and Kam Circuits. Fear also of the pressure to adopt very imprudent accounting policies on depreciation so as to ‘dress up’ the interim results. This would allow for no charge at all for the first year of asset use. We shall have to see as matters are affected by holidays and Kode’s other takeover moves. Off then to LDR Systems in Aldershot and, after a fair time trying to find it, a short review of their plans, organisation and ownership. Although allied to Ericson the majority of their finance is from the founding director and at least two thirds of business and capital are from outside. Home to arrive in mid-evening and, on the journey, I managed to have my first scrape in the Jaguar. Early to bed and a good night’s sleep.