Feeds

Viglen dips toe into net investments

Static profits

  • alert
  • submit to reddit

Maximizing your infrastructure through virtualization

Viglen is still looking for a disgruntled e-ntrepreneur to head up its VigEcom, its new Net investment subsidiary. The search has not stopped VigEcom from making its first punt -- a 26 per cent shareholding in Intelligent Network Technology for £2.5 million. The news accompanies the publication of Viglen's results for the six months ending 31 December. Sales for the period stood at £47.7 million, with pre-tax profit of £2.5 million. For the same period in 1998 sales were £47 million, with pre-tax profit of £2.5 million. An interim dividend of 0.6p per ordinary share will be paid on 5 May to shareholders on record on 7 April. Known primarily as a PC builder, Viglen says it no longer relies on cash sales of PCs to remain profitable, thanks to an increase in networking-related business. This now represents 16 per cent of the company's turnover. The education market remains a key part of Viglen's business, and accounts for more than half of the company's sales. In the six months ending 31 December, sales to this sector climbed 30 per cent to £24.9 million. In the stocks Viglen's plans to set up an Internet division sparked an investigation of UK newspaper journalists tipping stock they hold and using insider information to line their pockets. Piers Morgan, editor of The Mirror found himself in hot water when he was found to have bought £20,000 of Viglen stock the day before his newspaper's City Slickers column ran a so-called exclusive story on Viglen's e-biz venture in its 17 January edition. But luckily for old Piers, The Register was on hand to pour cold water on talk of the being an exclusive. How come? Because we wrote about it on 14 December. Exclusive? Yeah, that'd be about right. ® See related stories: Mirror editor in Viglen share-deal row Viglen unveils e-biz division Sugar advertises for 'Unrewarded Internet Entrepreneur'

The Power of One Infographic

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
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
Airbus promises Wi-Fi – yay – and 3D movies (meh) in new A330
If the person in front reclines their seat, this could get interesting
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
prev story

Whitepapers

Reducing security risks from open source software
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.
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.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.