Feeds

Fayrewood looks to Europe for acquisitions

Autonomy key to success

  • alert
  • submit to reddit

Boost IT visibility and business value

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

The Power of One Brief: Top reasons to choose HP BladeSystem

More from The Register

next story
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Securing Web Applications Made Simple and Scalable
Learn how automated security testing can provide a simple and scalable way to protect your web applications.