Fayrewood upbeat on trading

Looking up

Fayrewood plc, the networking/storage distie group, today announced trading in the first five months of this fiscal year has produced a "substantial increase in profitability" over the same period last year. Turnover was approx. £180m (2001 £136m). Also its German subsidiary, ComputerLinks posted better sales and Earnings Before Bad Stuff for the three months ended September 30, 2002. Revenues were up 5 per cent to €41.2m (2001 €39m)and EBITDA was up 13 per cent to €2.6m,(2001 €2.3m). Gross margins held steady at 21 per cent. The company has now moved into net cash balances. ®