Psion profits up but warns on 1999

Psion announced today that pre-tax profits for 1998 had more than doubled, up 104% on the previous year.

The company made a pre-tax profit of £23.3m up from £11.4m for 1997 with sales up 13% to £159.9m from £142.m last year.

The company warned, however, that 1999 won't be so easy. David Potter chairman of Psion said: "The shift to embedded modems is likely to reduce Psion Dacom's sales in 1999. Psion Computers is likely to see a slow first half to the year, with growth occurring in the latter part of the year as its product range widens. There will be substantial costs arising at Symbian as the company invests(s) in the development of EPOC."