Feeds

Compel blames Y2K sales slowdown

...even though revenues jumped 12 per cent

  • alert
  • submit to reddit

Security for virtualized datacentres

Compel yesterday saw interim profits slump by almost 40 per cent, but expects customer spending to pick up in the first half of this year. The reseller blamed a Y2K sales slowdown as pre-tax profits slipped to £3 million for the six months ended 31 December 1999 in line with expectations. This compared to almost £5 million the previous year. Sales rose to £136 million against £121 million. "We are already seeing evidence of an upturn following the year 2000 date change and we are confident that expenditure levels in our customer base will increase materially during the first half of 2000," said Neville Davis, Compel's chairman and CEO. "The Group has recently seen a strong flow of substantial new contract wins with FTSE 100 companies." Drew Cullen writes: This is a peculiar sort of millennium sales lockdown: Compel sales actually rose 12 per cent during this reporting period (compared with 1998). The £1.9 million profit downturn looks more like the company got the sales mix wrong (too much product, not enough services), or a big one-off leap in expenses. ®

Internet Security Threat Report 2014

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Big Content outs piracy hotbeds: São Paulo, Beijing ... TORONTO?
MPAA calls Canadians a bunch of bootlegging movie thieves
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
Hungary's internet tax cannot be allowed to set a precedent, says EC
More protests planned against giga-tariff for Tuesday evening
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
Verizon bankrolls tech news site, bans tech's biggest stories
No agenda here. Just don't ever mention Net neutrality or spying, ok?
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.
Business security measures using SSL
Examines the major types of threats to information security that businesses face today and the techniques for mitigating those threats.