9th Floor Want Out

Monday, 5 February 2001, 0:01
1 min read

The company also says it is in the early stages of negotiating a “substantial acquisition” which will increase its range of services in property and infrastructure management, as well as complementing the business of video surveillance and computer technology firm Farsight.

In the six months to the end of November, The Ninth Floor made a pre-tax loss of £797,000 on sales of £1.82 million, compared with a loss of £612,000 on sales of £979,000 in the same period a year earlier. The company – formerly car windscreen replacement firm Silver Shield Group – says the last six months have “witnessed a substantial improvement in the prospects of The Ninth Floor”.

It says it has been working with a number of camera manufacturers who are seeking to offer internet protocol (IP) addressable cameras. The Ninth Floor already has a worldwide development agreement with JVC and is negotiating similar arrangements with other leading manufacturers. Discussions are also taking place for the licensing of Farsight’s software to provide CCTV monitoring over the internet.

On the issue of Swansea City, The Ninth Floor says planning consent has been granted for the development of a new stadium at Morfa, Swansea. The company, which owns nearly 100% of Swansea City, had previously said it was ready to float the football club on the Alternative Investment Market when the time was right.

Images courtesy of Getty Images, Athena Picture Agency and Swansea City Football Club.
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