Feeds

Fayrewood looks to Europe for acquisitions

Autonomy key to success

  • alert
  • submit to reddit

High performance access to file storage

Fayrewood is seeking to expand its collection of distributor acquisitions in Europe after interim profits almost doubled. The holding company for distributors Interface Solutions, ComputerLinks and Banque Magnetique posted a 98 per cent rise in pre-tax profit to £961,000 for the six months ended 31 October. Turnover was also up for the AIM-listed company, leaping 167 per cent to £54.1 million. Earnings per share increased 26.3 per cent to 2.7p, with the board declaring a dividend increase of 0.54p per share, payable on 7 April 1999. Pierce Casey, Fayrewood executive chairman, said the group will keep the companies under one umbrella, but stressed there were no plans to further integrate the three bought over the last 18 months. "Our strategy is quite different to many in the field in that we find entrepreneur-built companies and let them run relatively independently. This is probably where a lot of other companies go wrong," he said. The May acquisition of UK distributor Interface raised questions about compatibility within the group. ComputerLinks is a German high-end networking distributor and French Banque Magnetique specialises in modems and 3Com. Casey said future growth would be both acquisitive and organic, adding "we are seeking well run, niche service companies". However, he placed definite emphasis on buying distributors in continental Europe, or European sections of companies.® Acquisitions boost Fayrewood sales Germany set Fayrewood

High performance access to file storage

More from The Register

next story
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
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?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
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

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
HP ArcSight ESM solution helps Finansbank
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.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.