Feeds

Mulford quits as Datrontech CEO to start ASP

Big write-offs=big losses

  • alert
  • submit to reddit

The essential guide to IT transformation

Mark Mulford has quit as CEO of UK distributor Datrontech to launch an Application Service Provider (ASP). The departure was announced as the company recorded pre-tax losses of £8.2 million for its year ended January 2 2000. This compared to profits of around £2 million the previous year. Sales were down 10 per cent or to £200.7 million from £223.3 million. Industry newcomer Ray Peck replaces Mulford. Datrontech said it was unable to say at present which company Peck was joining from "for commercial reasons", but that he had a distribution background linked to IT. Meanwhile, Mulford's three years leading the Basingstoke distributor are over and he is working on a freshly formed Datrontech subsidiary called Portableplace.com. He will be CEO of the ASP, but will not be a board member of Datrontech. The venture, expected to be launched this summer, will be aimed at business to business applications in mobile computing and remote access. Datrontech has a majority holding in Portableplace.com, while Mulford and partner John Tonnison also have a stake in the company. The company's disappointing results were due to the shedding of loss-making companies in Eastern Europe and the sale of PC recycling business RD Trading, Allan Mack, Datrontech COO, said today. Exceptional costs of £7.9 million included a £3.6 million goodwill write-off for the disposal of RDT, plus a tangible loss of £2.7 million on the shutting of subsidiaries in Poland, the Czech Republic and Hungary. The relocation of storage business Summit to Colchester also cost the group £1.7 million. Mack told journalists that the selling-off of the company's non-core business was "now virtually complete" and that there would be "no more surprises" for this financial year. Regarding profit, Mack said he would be "happy if we could maintain the current run-rate", while he expected sales to grow. Mack rubbished rumours that he was leaving his position at Datrontech, even though he had curiously run out of business cards at today's event. Last year Datrontech issued profit warnings in June and March, as well as the previous August. The board aims to get Datrontech's share price to £1 over the next two years, and to £2 within three years. Today Datrontech's shares were unchanged at 20 pence. ® Related stories Datrontech issues profit warning as share price falls Polish shortfall may take shine out to Datrontech results Computacenter snaps up RD Trading

5 things you didn’t know about cloud backup

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Banking apps: Handy, can grab all your money... and RIDDLED with coding flaws
Yep, that one place you'd hoped you wouldn't find 'em
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
Netflix swallows yet another bitter pill, inks peering deal with TWC
Net neutrality crusader once again pays up for priority access
prev story

Whitepapers

Top 10 endpoint backup mistakes
Avoid the ten endpoint backup mistakes to ensure that your critical corporate data is protected and end user productivity is improved.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Backing up distributed data
Eliminating the redundant use of bandwidth and storage capacity and application consolidation in the modern data center.
The essential guide to IT transformation
ServiceNow discusses three IT transformations that can help CIOs automate IT services to transform IT and the enterprise
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.