Electronic device producer Amstrad announced record pre-tax profits of £14.2m at the interim stage to December, exactly double that of last year. Led by Sir Alan Sugar, who is enjoying a media renaissance as hirer and firer on TV show the Apprentice, the company enjoyed a 115% increase in turnover to £63.5m thanks to significant sales increases in its PVR set top box, which incorporates a hard disc drive, and the first sales of its set top box for Italian broadcaster SkyItalia. Amstrad's Hong Kong operation, a direct shipper of audio products to the US market, experienced further growth. The company also reported strong sales in its e-mailer plus digital telephone answering machine. The phone drives an additional £22,000 in revenues each day from extra features including internet access, downloadable ringtones, games and SMS text messaging capabilities. 403,000 units have been sold so far. Interestingly, Amstrad has launched its next generation phone E3 (retailing at £99), which also offers a digital screen. Sales of this product are not expected to soar until further software development (that will enable users to download digital photos and make video phone calls) is complete. House broker Evolution Securities upgraded its forecasts in September, anticipating pre-tax profits of £18.8m (from £17.3m). The prospective p/e of 11.9 is reasonable. Hold.