15/08/2001
Major IT firm reports deterioration in trade
Computacenter, a specialist provider of IT infrastructure services to large organisations, have reported deteriorating trading conditions in the sector.
Announcing interim results for the six months ended 30 June 2001, in line with expectations Computacenter unveiled a pre-tax profit of £34 million before exceptional charges of £3.4 million for the closure of iGroup and a share loss in Biomni of £1.4 million.
However, in his statement Chairman Ron Sandler said: “ Although in aggregate these results are encouraging, they conceal a deterioration in trading conditions as the first half progressed. Performance in the early part of the year was exceptionally strong as the post-millennium recovery in IT markets, which began in the latter half of 2000, continued to gain momentum.”
Mr Sandler said that from April the company had experienced the first signs of a “significant slowdown”. He added: “Trading conditions and therefore the outlook for profits in the second half are difficult to predict with confidence.”
He said: “Sales of Unix systems were particularly affected, as a result of the downturn in e-business investment. More generally, in a climate of growing economic uncertainty, a slowdown in corporate spending on IT development and deployment was experienced, most noticeably in the telecoms and investment banking sectors.
“In recognition of market conditions, Computacenter has continued to pay close attention to keeping costs under tight control and, even allowing for the growth in on-site Managed Services personnel, Group headcount during the period has been essentially static.”
Computacentre closed specialist e-business division the iGroup which had experienced an operating loss of 5 million in the period.
As a whole the Group’s balance sheet remained strong with sales of £1.173.7 million generating £56 million in cash.
The stock market did not warm to the news and shortly after the statement was released Computacenter shares fell by 10 per cent.
(SP)
Announcing interim results for the six months ended 30 June 2001, in line with expectations Computacenter unveiled a pre-tax profit of £34 million before exceptional charges of £3.4 million for the closure of iGroup and a share loss in Biomni of £1.4 million.
However, in his statement Chairman Ron Sandler said: “ Although in aggregate these results are encouraging, they conceal a deterioration in trading conditions as the first half progressed. Performance in the early part of the year was exceptionally strong as the post-millennium recovery in IT markets, which began in the latter half of 2000, continued to gain momentum.”
Mr Sandler said that from April the company had experienced the first signs of a “significant slowdown”. He added: “Trading conditions and therefore the outlook for profits in the second half are difficult to predict with confidence.”
He said: “Sales of Unix systems were particularly affected, as a result of the downturn in e-business investment. More generally, in a climate of growing economic uncertainty, a slowdown in corporate spending on IT development and deployment was experienced, most noticeably in the telecoms and investment banking sectors.
“In recognition of market conditions, Computacenter has continued to pay close attention to keeping costs under tight control and, even allowing for the growth in on-site Managed Services personnel, Group headcount during the period has been essentially static.”
Computacentre closed specialist e-business division the iGroup which had experienced an operating loss of 5 million in the period.
As a whole the Group’s balance sheet remained strong with sales of £1.173.7 million generating £56 million in cash.
The stock market did not warm to the news and shortly after the statement was released Computacenter shares fell by 10 per cent.
(SP)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
26 November 2001
Consignia’s pre-tax losses climb to £100 million
Consignia has announced a half-year operating loss of £100 million before tax and exceptional items. This compares to a loss of £20 million for the same period a year ago, and after accounting for exceptional items, the post-tax loss for the half-year is £281 million, compared with a £113 million loss for the previous half year.
Consignia’s pre-tax losses climb to £100 million
Consignia has announced a half-year operating loss of £100 million before tax and exceptional items. This compares to a loss of £20 million for the same period a year ago, and after accounting for exceptional items, the post-tax loss for the half-year is £281 million, compared with a £113 million loss for the previous half year.
14 May 2002
Banks challenged to end customer rip-off
Consumer magazine group Which? has issued a call to the "big four" banks to address what it describes as the "£500 million rip-off" of customers on the high street.
Banks challenged to end customer rip-off
Consumer magazine group Which? has issued a call to the "big four" banks to address what it describes as the "£500 million rip-off" of customers on the high street.
24 April 2003
Belfast firm secure half a million pound IT deal
A Belfast-based IT company has secured a half a million pound contract with an English county council thanks to its own integrated IT solutions system. Consilium Technologies’ flagship product, TASK Contractor has been selected by the property division of Derbyshire County Council in a contract worth over £580,000.
Belfast firm secure half a million pound IT deal
A Belfast-based IT company has secured a half a million pound contract with an English county council thanks to its own integrated IT solutions system. Consilium Technologies’ flagship product, TASK Contractor has been selected by the property division of Derbyshire County Council in a contract worth over £580,000.
14 February 2002
Aspire small business loans top half million pound mark
A Belfast-based company, which helps finance small businesses in deprived areas, has topped £500,000 million in loans. Aspire Micro Loans for Business Ltd also aims to distribute more than £400,000 during 2002 and will extend its reach to small businesses in the Londonderry area.
Aspire small business loans top half million pound mark
A Belfast-based company, which helps finance small businesses in deprived areas, has topped £500,000 million in loans. Aspire Micro Loans for Business Ltd also aims to distribute more than £400,000 during 2002 and will extend its reach to small businesses in the Londonderry area.
07 November 2005
Two million people ‘bullied at work,' say TUC
Around two million people claim to have been bullied at work in the past six months, the Trade Union Congress has revealed. The TUC estimated that around 18 million working days are lost each year because of bullying.
Two million people ‘bullied at work,' say TUC
Around two million people claim to have been bullied at work in the past six months, the Trade Union Congress has revealed. The TUC estimated that around 18 million working days are lost each year because of bullying.
-
Northern Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.