UK gases company BOC recently reaffirmed its commitment to supplying the semiconductor industry even though the prolonged slowdown in BOC Edwards, its high-technology supply business, prompted a fall …
UK gases company BOC recently reaffirmed its commitment to supplying the semiconductor industry even though the prolonged slowdown in BOC Edwards, its high-technology supply business, prompted a fall in the group“s full-year sales and profits. Tony Isaac, BOC“s chief executive, said that he expected orders in BOC Edwards to remain becalmed for the next few months, perhaps picking up towards the end of the year. BOC Edwards reported operating profits in the three months to 31 December 2001 of GBP 3.9 million, compared with GBP 28.4 million during the same quarter in 2000, when the semiconductor cycle peaked. Mr Isaac, defending his company“s interest in the highly cyclical semiconductor industry, said: “We are still in profit. We have not lost our enthusiasm for the overall market.” BOC Edwards had sales in the three months to December of GBP 153 million, contributing to group sales of GBP 960 million, down 5% on the same period last year. Pre-tax profits were down by 12% at GBP 97.1 million and earnings per share were down by 9% at 12.3p.