PracticeConsultingSpotlight: Chloride powers up

Spotlight: Chloride powers up

Power supplier Chloride is set next week to release interims that will build on a 40% sales surge reported this summer as demand grows from the IT and telecoms markets for its products.

In June chartered accountant and chairman Bill Foreman said the sales boom follows an increase in demand for new infrastructure capacity in mobile telephony, fibre optic networks and data and call centres.

Management accountant and chief executive Keith Hodgkinson and chartered accountant FD Neil Warner earlier this year announced the growing power protection operation had pushed pre-tax profits up by seven per cent to #13m for the year to the end of March.

This month the group acquired SAED, a French manufacturer of DC power protection systems for the telecoms, internet and e-business fields.

Chloride will pay £12.1m for SAED, which will be renamed Chloride Telecom Systems.

Chloride Group manufacture uninterruptible power supplies that provide power protection for systems at the heart of the IT, telecom, and financial services industries, with blue chip companies that include Nokia, Ericsson and the BBC.

It also provides emergency lighting systems and fire-detection alarms.

In August, the group won a power protection contract with internet service provider World Online, and a power supply contract with Italian network provider I.Net, with further partnerships in Germany, Spain and Latin America.

This month Chloride was expected to complete the sale of its American emergency lighting business based in North Carolina to Genlyte Thomas LLC, for $52m (£35m) – $46m more than its net assets as stated at 31 March.

Fifty-six-year-old Hodgkinson became chief executive nine years ago after a career with GEC, while 47-year-old Warner joined Chloride in 1997 after six years as a director with Ocean Group. He trained with Coopers & Lybrand.

Bill Foreman, 63, was appointed non-executive chairman last year.

jerry_frank@vnu.co.uk

Chloride Group

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