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Articles about Tax Profits

Apple dodged all UK corporation tax in 2012

Apple didn't pay any corporation tax in the UK last year, according to its latest filings in the country, adding to controversy at home about its imaginative tax planning. The fruity firm's main British subsidiaries Apple (UK), Apple Europe and Apple Retail UK reported pre-tax profits between them of £68m in the year to …

Worldwide tax crackdown planned against tech globocorps

The G20 has backed an action plan from the OECD that would fundamentally rejig international rules on taxation. Major multinationals like Google, Apple and Amazon have excused their legal tax-dodging antics by shrugging their shoulders and telling governments that if they don't like it, they'll have to change the rules, and the …
Retro Space Invaders Couch

Do you really want tech companies to pay more tax?

World+dog is grumpy with Apple, Microsoft, Google and plenty of other multinational companies, because they do legal-but-tricky things to avoid paying tax. But you, dear readers, might have a good reason to let them all off the hook, because you probably own shares in at least one. There's a good chance you don't know about …
Simon Sharwood, 29 Jul 2013
The Register breaking news

Amazon makes BEELLIONS from British customers, pays pennies in tax

Amazon paid just £1.8m in corporation tax in the UK despite racking up a pre-tax profit of £74m on £3.35bn sales in 2011, according to figures the web giant wanted to keep secret. MPs probing the company's minuscule corporation tax bill demanded to see Amazon's profit numbers as well as its sales performance, and published the …
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Software and services firm K3 reports descent in profits

Mid-range ERP house K3 saw profits dip in the six months to December as it hoovered up a host of smaller rivals. The software and services seller, which is in currently touting itself around the market, turned in revenues of £33.4m for the first half of its financial year, a 35.2 per cent jump on the previous year. Pre-tax …
Joe Fay, 06 Mar 2012
Big, big knot of Cat 5 cables

Kcom shrugs off revenue slip to boost profits

Comms services provider Kcom jacked up profits for its full year despite a slip in revenues, preliminary results released this morning show. The erstwhile local telco said this didn't distract from its ongoing refocusing, and it still intended to up its dividend this year. Kcom turned in total revenues of £387.3m for the year …
Joe Fay, 22 May 2012
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Phoenix restructure sends profits down in flames

Phoenix IT Group saw its wings decisively clipped over the last year, as a wide-ranging restructure battered profits and helped knock sales off-course in an already tough market. The services group insisted it was confident it will see revenue growth over the current year, but remained “cautious” about its likely performance in …
Joe Fay, 28 May 2012
Google sign outside Mountain View headquarters

Activist investors try forcing Google to pay more taxes

A group of Google investors has called on the firm to stop "undermining democracy and the rule of law" and start paying as much tax as possible in the countries it operates in. The stockholders have put forward a proposal, to be voted on at the annual general meeting today, which would force Google to adopt a set of principles …
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Logica profits slump in 'much more difficult' 2011

Logica said its 2012 revenues could go up or down as it turned in full year 2011 figures that showed a massive drop in profits. The services giant reported full year consolidated revenues of £3.92bn for the year to December 31, up 6 per cent on the year. Consolidated pre-tax profits were £32.7m, a dramatic fall on the previous …
Joe Fay, 22 Feb 2012
hands waving dollar bills in the air

Systemax sales grow and profits too

Systemax's investigation into whistleblower allegations against former exec Gilbert Fiorentino added $7m to its Q2 pre-tax profits but the consumer slowdown dented sales growth. The parent of US retailers Tiger Direct and CompUSA and reselllers Misco and WStore in Europe, has reported profits of $15.5m, up 64 per cent on the …
Paul Kunert, 04 Aug 2011
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Capita: We've spent £150m on acquisitions... SHOW US the MONEY

Serial acquirer Capita IT Services reported a low-single digit revenue jump for the first half of calendar 2014, but given the numerous acquisitions made this looks to be something of a commercial damp squib. The techie arm bulked up sales by just 2.7 per cent year-on-year to £235m in the period, not including the £60m worth of …
Paul Kunert, 23 Jul 2014

Google: Thanks for the billions in revenue, UK. Here are your taxes, that's ... £11m

Google paid Britain £11.2m in corporation tax in 2012, the company confirmed today. That's slightly more than the £7.3m the ad giant coughed up in 2011. But the latest figure, confirmed by Google to The Register this afternoon, will no doubt enrage the search king's critics - including Labour MP and Parliament's Public Accounts …
Team Register, 30 Sep 2013
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Deckchairs shifted aboard tech liner HP's services biz

An EMEA-wide overhaul dreamed up by HP execs to lift the fortunes of the Enterprise Services division — and cut out costs — will be implemented in time for the fiscal New Year starting next month. Under the new-look biz, ES has consolidated from nine sub-regions into four ‘super’ clusters including North (Benelux and Nordics), …
Paul Kunert, 16 Oct 2014
The Register breaking news

BT profits climb on brisk broadband sales

BT reported second quarter sales of £4.89bn, a 2 per cent drop, while pre-tax profits rose 15 per cent to £570m for the period ended 31 September. Earnings per share rose from 5.1 pence to 5.6 pence and earnings before interest, taxes, depreciation and amortisation were up 3 per cent at BT, with the company reporting £1.49bn for …
Kelly Fiveash, 03 Nov 2011
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Juniper Networks UK bigwig hotfoots it to Alternative Networks

Juniper UK and Ireland boss Mark Quartermaine is hot-footing it to one of the firm's biggest channel partners, Alternative Networks, where he will be COO from next month. The former IBM, C&W, BT Global Services and Azzurri exec initially joined LSE-listed Alternative as a non-exec director in January last year but his …
Paul Kunert, 24 Apr 2014
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Dixons Retail and Carphone Warehouse mull merger

Dixons and Carphone Warehouse (CPW) today confirmed they are locked in negotiations that may or may not lead to a merger. "These discussions are at a preliminary stage and there can be no certainty that a transaction will be forthcoming," the pair said in a joint statement this morning. As such, no decision has been made …
Paul Kunert, 24 Feb 2014
globalisation

BT sees revenues slip in first half, but jacks up profits outlook

BT reported a slip in revenues in its interim results this morning, but for once, its Global Services arm was not the main culprit. The telecoms giant turned in overall revenues of £4.98bn for the six months ending 30 September, down 3 per cent on the year on an adjusted basis. "Adjusted" EBITDA was £1.4bn, up 3 per cent. …
Joe Fay, 11 Nov 2010

German dealer Bechtle planning Euro blitz

Lower than expected sales outside of its German homeland and rising staff costs were blamed by Bechtle's bosses for a double digit slide in profits. The reseller giant said sales edge up just one per cent to €502m (£401m) in calendar Q3 but profits before tax (PBT) fell 15.5 per cent to €18.7m (£15m). Domestic turnover grew 6.5 …
Paul Kunert, 13 Nov 2012
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Northamber sees profits collapse on sales slide

Northamber's pre-tax profits collapsed in the year to June 30, with only investment revenues keeping it in the black. The veteran distributor saw sales slide to £139m, compared to £179.7m last year. However, the firm made a loss from operations of £320,000 compared to a profit of £25,000 a year ago. Only pulling in investment …
Joe Fay, 24 Sep 2009
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Autonomy reports big jump in pre-tax profits

Cambridge-based business software firm Autonomy said it has seen its pre-tax profits rocket by 89 per cent for the first half of the year. The unaudited pre-tax profit results for the six months to June were said to be up from $21.3m in the same period last year to $40.3m. The firm, which creates software that is used to …
Kelly Fiveash, 23 Jul 2007
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Bechtle's double digit sales, profit hike in UK? Satisfactory, says parent firm

A double digit hike in sales and profits at the Brit arm of reselling powerhouse Bechtle was merely described as "satisfactory" by its German owner. Coming in the middle of the steepest economic downturn ever, The Channel - suggests the parent firm is perhaps being a little too ruthlessly rational. Sales for calendar 2012 at …
Paul Kunert, 30 Apr 2013
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Computacenter: We've so much cash we're GIVING AWAY MEELLIONS

One of Europe's largest resellers, London-based Computacenter, has helped investors get the Bank Holiday weekend off to a good start by confirming plans to return £75m to them. Computacenter said in a statement to the City that it is proposing a one-off "return of value" to shareholders of 48.7 pence per ordinary share. The £ …
Paul Kunert, 24 May 2013
The Register breaking news

Job losses hit C&W profits

The cost of sacking hundreds of staff during the integration of Thus meant Cable and Wireless reported full year pre-tax profits down 13 per cent today. In the year to the end of March, the firm earned £233m on revenues of £3.6bn, up from £3.2bn the previous year. Restructuring losses from last year's £329m Thus acquisition, …
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Computacenter grows revenues as profits fall

Computacenter pre-tax profits are down slightly for 2008 but revenues grew 7.6 per cent to £2.56bn. For the year ended 31 December 2008 Computacenter saw profit before tax fall 6 per cent to £39.5m. Chief executive Mike Norris said it was impossible to draw many conclusions for the year ahead until the company had completed its …
John Oates, 10 Mar 2009
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Capita gets fat slower as government slims down

The government's austerity program has meant tightened belts at Capita, with the services giant citing reduced public sector revenues as a key reason for subdued revenue growth and a slight dip in pre-tax profits in 2011. However, the firm said it had succeeded in grabbing new business and it was again seeing organic growth from …
Joe Fay, 23 Feb 2012
The Register breaking news

ITV scoffs at ad slump as production arm hauls in cash

ITV has reported a revenues 11 per cent higher, and profits 15 per cent higher than a year ago, before accounting for exceptional items and tax. Revenues topped £1.28bn and pre-tax profits were £235m. The commercial broadcaster's primary revenue source – advertising – is weaker than a year ago, with spending flat this year. But …
Andrew Orlowski, 26 Jul 2012

Phoenix IT Group injects fresh blood, hopes to heal from accounting boo-boos

Troubled Northampton-based player Phoenix IT Services has quietly introduced new blood to the organisation. The IT services specialist recently posted numbers for the halfway (30 September) point in fiscal 2013, with sales diving £7m to £124m and operating profits falling to £9.9m from £14m (restated) in the previous year. This …
Paul Kunert, 11 Dec 2012
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Datel: Reseller growing faster than its vendor master Sage

Datel, Sage's largest channel partner in the UK, clearly isn't suffering similar growing pains to its vendor master after posting double digit growth for fiscal 2012. Sales saw an 18 per cent spike to £16.8m in the twelve months to 31 May and EBITDA rose 47 per cent to £1.67m. Pre-tax profits reached £1.14m from £588,000 a year …
Paul Kunert, 07 Dec 2012
globalisation

Sage profits slip in first half

Sage will spend the rest of the current financial year bedding down its latest crop of acquisitions after releasing first half results that showed revenues up but net profits down. The UK-based business software vendor turned in revenues of £574.4m for the six months ending March 31, up 26 per cent on the previous year. Or up …
Joe Fay, 09 May 2007
Parliament House Canberra by Flickr user OzMark17 used under CC Share and Share alike licence

Australian Parliament issues summons to Apple, Microsoft, Adobe

The IT Pricing Inquiry being conducted by Australia's House Committee on Infrastructure and Communications has issued summons to Apple, Microsoft and Adobe. The inquiry kicked off in 2012 and is investigating why Australians pay more for hardware and software than those overseas. At current exchange rate one Australian dollar …
Simon Sharwood, 11 Feb 2013
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Carphone Warehouse plans for split after pre-tax loss

Carphone Warehouse boss Charles Dunstone has launched a "formal review of the group's corporate structure" which could lead to the breakup of the telecoms group. Dunstone confirmed a split was possible as the firm unveiled interim results which showed a pre-tax loss and "headline" profits falling across the company's businesses …
Bill Ray, 18 Nov 2008
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Dixons Retail: A mirror held up to Europe

Dixons Retail's top and bottom lines slipped in fiscal 2012 ended 28 April, according to preliminary results. Group pre-tax profits fell to £70.8m, down from £85.3m in the previous financial year and sales dipped three per cent to £8.05bn, compared to £8.3bn in fiscal 2011. The total loss before tax narrowed to £118.8m from £ …
Paul Kunert, 21 Jun 2012

Capita Group snaps up travel agent for biz types Expotel

Business process outsourcing group Capita, daddy to Capita IT Services, has slurped business travel booking agent Expotel Group for £16m. Capita grabbed Expotel, which handles UK hotel, business travel and conference booking, to snap onto its existing business travel operations and provide events management as well. Expotel …
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Phoenix burns engineering and Northampton call centre jobs

Phoenix IT Group has told HQ-based call centre staff and a bunch of field engineers that their jobs are at risk of redundancy, insiders have told The Channel. The headcount reduction is part of a phased plan to chop 300 workers, and is understood to have led to some rationalisation in sales and marketing including the exit of …
Paul Kunert, 30 May 2012

Sage: Where's this double-dip disaster everyone's crying over?

Sage revealed the fragility of the Eurozone economy continues to give management sleepless nights as the recovery it touted didn't show up. Back home in Blighty, though, growth was described as good. The UK-based accounting software biz pushed up sales two per cent to £661.2m in the six months to 31 March. Pre-tax profits …
Paul Kunert, 16 Jul 2012
The Register breaking news

Oz billionaire says CIA backs Greenpeace

Australian Mining Magnate Clive Palmer has declared the CIA is behind a Greenpeace campaign that aims to slow the growth of Australia's export coal industry. Palmer was recently declared a Living National Treasure, alongside Kylie Minogue among others. Like others in his industry he is also firmly opposed to two new Australian …
Simon Sharwood, 20 Mar 2012
Warning: uneven road

Computerland racks up profits

Computerland PLC made pre-tax profits up 26 per cent to £2.80m, according to preliminary results released by the IT managed services firm. Turnover rose 13 per cent to £67m for the year ended April 2007, the figures showed. Computerland said it performed strongly in contracted revenues, up 49.3 per cent, largely due to O2 and …
Kelly Fiveash, 21 Jun 2007
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Computacenter's Euro ops outshine sluggish UK biz

Computacenter saw UK revenues slip in 2011, but strong growth in its European operations boosted revenues overall and underpin a bullish forecast for 2012. The mega reseller and services firm’s German, French and Belgian operations now account for just under half its adjusted operating profit, emphasising its success on the …
Joe Fay, 13 Mar 2012
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Olympics may have been glorious, but they 'dampened IT trade'

The Olympics may have boosted the feelgood factor in London and across the wider country but it dampened trade in the IT channel - well, according to distributor Northamber anyway. The veteran UK distie made the claim today as it reported financials for the year to 30 June which revealed a return to pre-tax profits but a double …
Paul Kunert, 27 Sep 2012
Warning: two way

DSG computing sales up, profits down

The increasing popularity of laptops helped deflate margins at DSG international's computing operation, the firm revealed in its full year results today. The electronics group turned in full year revenues of £7.9bn for the year to 28 April, up 14 per cent on the year. Pre-tax profits were £114.1m, down on the previous year's £ …
Joe Fay, 20 Jun 2007
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Former fax salesman made head of Brother's UK ops

Brother has promoted former fax machine salesman Phil Jones to head of UK operations. Jones, who started at the company 18 years ago and was most recently sales and marketing director, replaces previous UK bigwig of more than four years Hiroshi Miura. As UK country head and deputy MD, Jones will report to Yuji Ishiguro, Brother …
Paul Kunert, 21 Mar 2012
The Register breaking news

Carphone profits up

The Carphone Warehouse expects Q2 profits to rise by 35 per cent compared to last year as demand for telecoms services continues to grow. The independent mobile comms retailer, which also operates its own phone business, reported that total mobile phone connections grew by 15.1 per cent to 1.78m year-on-year in the 13 weeks to …
Tim Richardson, 12 Oct 2005
The Register breaking news

Sage ups profits and revenues

Accountancy software specialist Sage increased turnover by 14 per cent and profits by 13 per cent for the financial year ended 30 September 2005. Turnover was up to £776.6m, from £682.6m last year, and pre-tax profits were up from £181.1m last year to £205.4m this year. The firm claimed organic growth of six per cent and said …
John Oates, 30 Nov 2005
globalisation

C&W Worldwide boss out after 4 months

Cable & Wireless Worldwide is swapping boss John Pluthero with Vodafone exec Gavin Darby after exceptional charges pushed the firm into the red for the first half of 2011. The move comes less than five months after former chairman Pluthero replaced Jim Marsh in the CEO chair in June following the third profit warning in the …
Paul Kunert, 15 Nov 2011
globalisation

Serco profits swell

Government services firm Serco announced tasty half year results today. Compared to last year, revenues were up 15 per cent to £1.236bn. Bigger margins meant profits outperformed revenue growth. Pre-tax profits climbed to £44.3m, 20.1 per cent up on the same period in 2005. The figures deliver earnings per share of £0.0669 and …
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Revenue and profits jump at Calyx

Gaining a strong foothold in the British market has contributed to strong interim financial results for Irish IT services firm Calyx. For the six months ending in June, Calyx reported a 61 per cent increase in turnover to €29m compared to €18.2m for the same period last year. The company, which has offices in Dublin, Limerick, …
Maxim Kelly, 26 Sep 2006
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Computacenter expects full year profits shortfall

Computacenter expects profits for the full year will be substantially below market estimates. The reseller and services giant said overall group sales for the first half will be around 10 per cent down from the previous year, adding “the final sales outcome will rely heavily on the last few days of the quarter.” The shortfall …
Joe Fay, 28 Jun 2005
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Zycko flogged to management team

Zycko group managing director Nick Moglia has spearheaded a management buy-out of the networking and comms distributor from founder Rory Sweet. The Cirencester-based business has a dozen years of trading history under its belt, with 13 offices across four continents. Moglia, a former director at UB Networks and Comstor, …
Paul Kunert, 12 Jul 2011
The Register breaking news

Azlan in reverse profits warning

Azlan, the European networking distie/trainingfirm , has broken through the doom and gloom with an upbeat trading statement. Sales for the half year to September 30, will "exceed £297 million (£262m) and pre-tax profits will exceed £7 million (2000: £5.4m). Second quarter revenues were up £7m sequentially, and £5m up on Q2 …
Drew Cullen, 03 Oct 2001
The Register breaking news

dabs.com profits double

dabs.com today announced pre-tax profits of £5.1m, doubling 2002's £2:5m, on sales advancing 30 per cent to £152m (2002: £117m) for the year to March 31, 2003. The company claims its operational efficiency was instrumental in "enabling it to maintain its high level of customer satisfaction whilst offering competitive pricing …
Drew Cullen, 14 Jul 2003