Acquisitions aid Computerland UK growth

Second half will be even better

Computerland UK half year results soared 89 per cent on the back of two acquisitions. But integration costs were blamed for more sluggish profits growth at 27 per cent. Sales for the six months to October 31 1998 were £19.4 million and profits were £507,000 (1997: £10.3 million and £308,000, respectively), Graham Gilbert, chairman and MD said first half profits were also affected by a loss of £88,000 in the company’s remote support operation. This division is set for break-even in the second-half of the year. Nottingham-based Computerland UK operates from eight branches, based mostly in the Midland and the South. In March and April this year, the company beefed up its business with the acquisitions of Leicester-based Netman, and KDL, a corporate reseller with offices in Chelmsford, Birmingham and Manchester. Integration of sales, service and back office functions is now complete, according to Gilbert, leaving the company in an “excellent position to realise the full benefits of our recent acquisitions during the second half of the year." November trading for the group is in line with expectations, and the board expresses confidence in the outcome for the full year. ®

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