Following the abandonment of the Home Computing Initiative from its 2006 budget, Evesham technologies is expected to post a significantly lower set of financial results for the year ending May 31st 2007.
According to Microscope, the company has been under pressure to cover the £30 million it had factored into its business plan since the Chancellor withdrew the tax relief which the Home Computing Initiative was based on.
“We are not going to be in profit given the effect HCI has had on our business,” said Richard Austin, chairman of Evesham. “We have made no secret of the fact that life has been difficult without HCI, but there are many other areas that we have worked on.”
The firm achieved revenues of £72.1 million last year, with pre-tax profits finishing at £563,000.