Baltimore Break-up to Continue

[R. A. Hettinga]

<http://www.onbusiness.ie/2003/0916/mibusiness.html>

OnBusiness

  š Tues, Sept 16, 2003

BALTIMORE BREAK-UP TO CONTINUE - Baltimore Technologies has reported
sharply lower first-half pre-tax losses of £9m, compared with £43m in the
same period last year. Losses before exceptional items were slashed from
£9.9m to £2.2m.

Total revenues dropped from £22.1m to £9.7m, while sales from continuing
businesses fell from £13.2m to £9.3m.

The company had cash balances of £14.6m at the end of the period, but
expects a further £15.9m from a series of disposals. Staff levels at
Baltimore have been cut from 422 to 255 in the period and the company says
this process will continue.


-- 
-----------------
R. A. Hettinga <mailto: rah at ibuc.com>
The Internet Bearer Underwriting Corporation <http://www.ibuc.com/>
44 Farquhar Street, Boston, MA 02131 USA
"... however it may deserve respect for its usefulness and antiquity,
[predicting the end of the world] has not been found agreeable to
experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire'

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