Profit puts spring in Tulip's step
Celebrates with an acquisition
After clawing its way back from the brink of disaster, Dutch PC vendor Tulip has recorded a profit and is buying a notebook manufacturer. Tulip saw profit after tax rise to £100,000, compared to last year's £14 million loss. Sales were largely static at £68 million, compared to the previous year's £67 million. The company said its overseas sales offices contributed 80 per cent of turnover, including the UK - responsible for 24 per cent of that figure - France 40 per cent and Italy 16.8 per cent. The results, which were in line with expectations, were described by the company as "the best news since we went into administration in 1998". The vendor also said the acquisition of Dutch vendor 2L International was expected to be finalised within the next few weeks. 2L, which recorded sales of £26 million in 1999, makes notebooks, networking and communications products under brand names Dynalink, Topline and Conceptronic. Tulip said products would be rolled out via its resellers in the coming weeks. "The management board expects the new initiatives, in the area of remote local area network management and the co-operation with software suppliers and Internet providers, will result in a positive contribution to both turnover and the profits for 2000," it said. Tulip added that it expected sales to top £107 million this year, with profit after tax of 2-3 per cent. ® Related Stories Commodore wannabe don't want to be Commodore no more Outlook for European PC merchants 'generally grim'