Interim revenues slip at Business Systems
Hardware hard to punt, solutions is solution
IT reseller and managed services firm Business Systems Group (BSG) saw revenue fall by two per cent to £15.8m for the six months ended 30 September 2007 due to a drop in its hardware sales.
The London-based company, which released its interim results yesterday, reported pre-tax profit of £465,000, compared to a loss of £344,000 for the same period a year ago.
Earnings per share were said to be 0.61 pence, from a loss per share of 0.46 pence in 2006.
The firm, which started out as an IT reseller in 1987 selling hardware and software goods in London and the South East of England, said it would continue to go after managed services contracts.
It reckoned for the past six months sales had grown in that sector of the biz to an annualised £7.9m, up £800,000 since March this year.
BSG chairman Roger Keenan said in a statement that the firm expected expansion in managed services to continue in the second half.
He added that ongoing data centre contract renegotiations would have a "modest" impact on the firm's financial performance for the year.
Keenan said BSG was also considering increasing its data centre "capacity" as part of its long-term strategy to grow its managed services arm of the biz. ®