Feeds

Compel blames Y2K sales slowdown

...even though revenues jumped 12 per cent

  • alert
  • submit to reddit

Providing a secure and efficient Helpdesk

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. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Special pleading against mass surveillance won't help anyone
Protecting journalists alone won't protect their sources
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
Vodafone to buy 140 Phones 4u stores from stricken retailer
887 jobs 'preserved' in the process, says administrator PwC
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.