Psion posts £13m loss in new guise

'Give it a little time,' chairman implores...

Psion has reported a first half loss of £13m in its first results since it announced it was ceasing production of handheld computers in July. However, reorganisation charges increased the losses to £54m. Psion chairman David Potter insisted the results and current trading were in line with expectations. He added that the company intends to focus on its wireless networking business Teklogix and its Symbian mobile OS interests. The £13m loss for the six months ending 30 June compared to a £3m profit in the same period last year. However, sales rose from £94.3m to £100.5m. Potter added that the effects of the change would not be seen until 2002.