from Pat Jordan
200 workers from International Computers and Tabulators! factories in Belfast lobbied the Northern Ireland Parliament on February 6th. They were protesting against the plans to close 2 of the firm's five factories on the Castlereagh industrial estate. Andy Barr, Northern Ireland president of the Confed. said on the previous day that it was feared that half the total work force (or 1,000) would be sacked in 2 month's time. The works committee secretary, Mr. S. Ewart, was even more pessimistic, In view of the fact that the two factories to be closed are the most modern ones, it scoms likely that the firm intends to close all its works on the estate.
The reasons for the closures can be gleaned from the firm's Chairman's annual statement to shareholders. Sir Edward WW. Playfair, K.C.B., said that last year had been unsatisfactory financially, This had led to a narrowing of margins (a mere £2,147,000 net profit after taxation, as against £2,283,000 in 1962) and was caused by the swing away from tabilators to computers, The latter earn a lower rate of profit, at least in the initial stages, To meet this the firm's direce tors propose. to cut overheads — hence the closures, However, anyone having shares in ICT can stop worrying because: "The directors have decided to recommend that the total ordinary dividend for the year should remain unchanged." (interim 4 1/64 and final 7 1/12%).