Explaining the group’s proposed change of name to the Headland Group, Geoff Bristow, chairman of Compsoft Holdings Plc, told an analysts meeting yesterday that he wanted Compsoft to be seen as a unique federation of businesses, each a branded specialist within its own market. Since taking over the company following the management buy-in by Octagon […]
Explaining the group’s proposed change of name to the Headland Group, Geoff Bristow, chairman of Compsoft Holdings Plc, told an analysts meeting yesterday that he wanted Compsoft to be seen as a unique federation of businesses, each a branded specialist within its own market. Since taking over the company following the management buy-in by Octagon industries last year (CI No 772) Bristow has succeeded in ridding the group of its loss-making overseas activities and turned in a pre-tax profit of UKP161,000 for the half-year to June 30. The group acquired software and traffic planning consultants Wootton Jeffries Plc last April, plus accounting software specialists Mega Systems last month (CI No 1,017). Bristow says however that the group plans to continue growing organically and by acquisition. The name change indicates that the directors no longer want the group to be associated with any one particular company within the group. Compsoft has been associated with the ageing Delta database management system that competes against dBase III. However the Compsoft business represents only about 15% of the group’s turnover in the wake of this year’s acquisitions. Wootton Jeffries has been split into three operating divisions: WJ Software, which writes in Pick and Oracle within the Structured System Analysis and Design Methodology; WJ Systems Solutions; and the road traffic consultancy business. Bristow sees the Government’s road plans as being a major issue in the next election and, coupled with the EuroTunnel project, is predicting major growth in this area. Mega is also hoping to expand its operatons by converting its Data General-based applications for other unnamed environments. Finally the group also has a conference centre business, Manor House Training, based in Guildford. Back in the black this was the first time Compsoft had a full analysts’ meeting and the feeling in the City is that the group has turned the corner. However there is only a small amount of cash available for acquisitions, and it cannot keep going back to shareholders for more money, so the near future is expected to be a period of consolidation. Bristow does freely admit that he is talking to other companies, but the most likely targets when the time comes would be bombed out firms with a core business or ones that see acquisition as a substitute for flotation.
