Feeds

Philip Crawford to head up InterX

Shares leap as it posts £4 million loss

  • alert
  • submit to reddit

The essential guide to IT transformation

InterX's share price shot up 170 pence this morning as it recorded its end-of-year results and announced plans to replace its CEO.

The company also announced plans to replace its CEO James Wickes with Philip Crawford - who will take up the position on 1 August. Crawford is currently a non-executive director of InterX and chairman of InterX Technology - Cromwell Media's new name. He was previously president of EDS International and senior vice president of Oracle UK and Ireland.

The Internet group saw pre-tax losses of £4.2 million, after exceptional items such as development of InterX's IT Network online product, for the 39 weeks ended 29 April. This date also marked the end of the company's financial year.

Sales were £293 million, of which £292 million related to Ideal Hardware - the company's IT distribution business which InterX recently agreed to sell to US distributor Bell Microproducts. This compared to pre-tax profits of £2.4 million on turnover of £318 million for the 12 months ended 30 July 1999.

InterX's share price rose 14 per cent to 1437.5 pence on the back of the news.

InterX and Ideal Hardware founder Wickes will take up the role of InterX group marketing director, and plans to expand the company's market share abroad.

"I've been very good at building up a distribution business - and I've taken the company into the Internet space," Wickes told The Register.

"Now we need to take InterX from a UK company into a global technology company. I thought it would be a wise move to move across and let Philip take over."

Wickes said he would concentrate on the branding and promotion of InterX's Bladerunner technology overseas. He aims to target companies in France and Germany in the financial services and media sectors within the next 12 months. ®

Build a business case: developing custom apps

More from The Register

next story
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Premier League wants to PURGE ALL FOOTIE GIFs from social media
Not paying Murdoch? You're gonna get a right LEGALLING - thanks to automated software
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Online tat bazaar eBay coughs to YET ANOTHER outage
Web-based flea market struck dumb by size and scale of fail
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
US regulators OK sale of IBM's x86 server biz to Lenovo
Now all that remains is for gov't offices to ban the boxes
Ballmer quits Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
prev story

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
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.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Solving today's distributed Big Data backup challenges
Enable IT efficiency and allow a firm to access and reuse corporate information for competitive advantage, ultimately changing business outcomes.
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.