Leasing software developer IDS has reported a £16.9m (£28.1m) loss for the year to December - after almost £18.9m of goodwill payments. The goodwill relates to the acquisition of US company Decision Systems Inc (DSI) in October 2000 and consists of a £14.2m write-down against acquisition's value, together with £4.6m of conventional amortisation. Despite the write-down DSI - an equipment leasing system, which, according to chairman John Hubert, 'can handle anything from a jumbo jet to a widget' - now represents IDS main thrust. Of the £35.4m (£12.9m) of revenue generated last year, DSI chipped in 76%. A further 14% of sales came from wholesale motor finance operations in the UK and US. But while Hubert describes this as a 'good cash generative business' he admits that 'there's no growth in it'. For this reason most of IDS attentions are now focused on DSI, yet here too things are 'likely to remain pretty flat' for the time being. Debts of around £16m are another worry.

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