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ICL ANNOUNCES BOTH GROWTH AND PROFIT IN 1992

 LONDON, April 7 /PRNewswire/ -- ICL, one of Europe's leading computer systems and services companies, today announced results for the year to Dec. 31, 1992.
 Revenues increased by 32 percent to 2.48 billion pounds (US$4.34 billion; 1991: 1.87 billion pounds, or US$3.27 billion).
 Profit before interest and tax was 60.6 million pounds (US$106 million; 1991: 78.9 million pounds, US$138 million). Profit before tax was 38.6 million pounds (US$67.6 million; 1991: 62.4 million pounds, or US$109.2 million).
 ICL spent 242 million pounds on R&D (US$424 million; 1991: 223 million pounds, or US$390 million) and generated net cash flow from operations of 240 million pounds (US$420 million). Net debt at Dec. 31., was 94.2 million pounds (US$164.9 million), a 35 percent gearing, or ratio of borrowings to assets, after cash outflow on capital expenditure, acquisitions, rationalization costs and financing charges.
 Commenting on the results, Peter Bonfield, chairman and chief executive of ICL, said: "We achieved 60 million pounds (US$105 million) of profit before interest and tax despite exceptionally difficult market conditions in virtually every country where ICL operates.
 "These results demonstrate ICL's ability to manage change in an industry undergoing rapid transformation both technologically and in the market place. The company's successful integration of its businesses with Nokia Data further underlines this performance."
 ICL's deliberate strategy of expansion in Europe has resulted in it achieving revenue of 1 billion pounds (US$1.75 billion) in continental Europe, with around 50 percent of its business now deriving from outside the United Kingdom.
 This has been achieved by targeting particular industries such as financial services, retail and public administration, increasing ICL's share of the services market and providing its customers with products based on open systems.
 Revenue from software and services accounted for approximately 50 percent of total revenue.
 Following the merger with Nokia Data, ICL is now fully established as a major player in Europe's personal systems market.
 In addition to ICL's own R&D, its reciprocal technical and trading links with Fujitsu continued to strengthen, giving the group access to its advanced technology and providing opportunities in Japan and other major markets.
 In 1992, ICL and Fujitsu established a joint venture operation in North America under ICL leadership, and ICL took a 20 percent investment in a new joint company in Oceania with Fujitsu.
 Bonfield commented: "Our relationship with Fujitsu continued to develop well and both parties are benefiting from it."
 ICL is one of the world's leading computer manufacturing and information technology companies. Operating in more than 70 countries worldwide, with some 25,000 employees, ICL generated revenues of almost 2.5 billion pounds (US$4.3 billion) in 1992. ICL supplies applications software, information technology services and computing hardware, through its operating companies located worldwide.
 -0- 4/7/93
 /CONTACT: Anne Prine, 714-855-5505 or John Cheetham, 44-81-788-7272, both of ICL/


CO: ICL ST: California IN: CPR SU: ERN

EH-LS -- LA004 -- 3650 04/07/93 08:02 EDT
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Date:Apr 7, 1993
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