Computerlinks hits forecasts
Sales up, earnings down
Fayrewood, the UK-listed networking distributor, has reported its German subsidiary Computerlinks AG has grown sales but seen earnings drop in its Q3.
Computerlinks AG (51 per cent owned by Fayrewood and listed on the Neuer Markt), which trades in the UK as Unipalm, reported earnings before interest, taxes, depreciation and amortisation (EBITDA) of 2.3 million euros, down on the year earlier period's 3.1 million euros.
Fayrewood had issued a profit warning at the start of October and Computerlinks AG Q3 results are in line with the company's revised figures. The company said it anticipated an upturn in the IT-sector in the course of the year 2002, and believes it will reach its forecasted turnover of 159 million euros and an EBITDA of 11 million euros for the entire business year 2001.
Computerlinks AG increased group turnover in Q3 by 16 per cent to 39 million euros, compared with the same quarter last year.
For the nine months, EBITDA went up by 42 per cent from 5.9 million euros to 8.4 million euros, representing a lower percentage increase than that of the turnover. Group turnover went up by 68 per cent from 70.8 million euro to 119 million euro for the period. ®