The instrument calibration and repair company has turned in some gloomy preliminary results for the year to 30 June. The interims back in March were poor, following problems at its US subsidiary. At the full year stage, turnover was virtually unchanged at £117m, with pre-tax profits falling 7.5% from £12.6m to £11.66m. Earnings per share was marginally higher at 4.87p (1998 - 4.75p) as a result of a considerably lower tax charge, and the dividend was increased 5% from 3.30p to 3.46p per share. Business was difficult in the wake of US mining and UK manufacturing downturns. Martyn Habgood struck a note of 'cautious optimism' for the short-term future of the manufacturing sector, predicting an upturn in the first half of 2000.