Feeds

ilion in talks to flog German-speaking operations

They lose too much money

  • alert
  • submit to reddit

High performance access to file storage

Networking distributor ilion has released its results for the first half of 1998, showing that while turnover increased by a healthy 42 per cent, profit crashed to almost a quarter of last year's figure. For the period ending 30 June, turnover for ilion stood at £125.6 million, an increase of 42 per cent on £88.4 million for the same period in 1997. At the same time, pre-tax profit fell from £4.0 million for the first six months of 1997 to only £1.2 million for the first half of this year. In the face of what the company admitted were worse than expected results, ilion has decided to pull out of Austria, Germany and Switzerland - three of its loss making territories. The German and Swiss operations lost more than £1 million between them in the six months up to 30 June 1998. At the end of the six month period debts totalled £9.3 million, compared with £4.9 million for the same period last year. A dividend of 1p per ordinary share will be paid out on 27 November - last year's dividend stood at 2p per ordinary share. Wayne Channon, ilion chairman, blamed a slow down in the UK market for the worse than hoped for results. Investment aimed at solving year 2000 problems has partially diverted spending from the client-sever market," he said. He also said that the second half of the year was expected to bring a general upturn in sales which would boost profitability. Channon said the sales of the poorly performing foreign businesses were "at an advanced stage" and would reduce ilion net assets by no more than £1.3 million. French subsidiary Alphamega has also been disposed of, in this instance via a management buy-out led by M. Simon Tournadre for £490,000. As Alphamega sells direct to end-users - in contradiction to the clean channel policy advocated by ilion - the parent company said it was pleased to be able to offload it in an amicable fashion. ®

Top three mobile application threats

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Record labels sue Pandora over vintage song royalties
Companies want payout on recordings made before 1972
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Number crunching suggests Yahoo! US is worth less than nothing
China and Japan holdings worth more than entire company
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
prev story

Whitepapers

SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.