Y2K bug snacks on ComputerLand's profits
Sales slump adds to tale of woe
ComputerLand UK issued a profit warning yesterday, blaming poor product sales and delays over Y2K. The IT services company said that product sales in September and October had been lower than expected and would result in "disappointing" full-year results. This latest move added to a list of cautions ComputerLand has issued over its performance. Yesterday shares closed unchanged at 56.5 pence, valuing the company at £5.2 million. This was well down on last year's 30 November value of £25.7 million. The group said it expected recent cost-cutting measures to prompt "a modest improvement" for the second half-year results. ®
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