The Channel logo


By | John Oates 20th September 2005 10:11

Compel maintains return to form

Turnover and profit up

Compel has put in a solid set of prelimary results for the year ended 30 June 2005.

Turnover for the UK reseller grew 25 per cent to £79m and operating profit went up 89 per cent to £2.3m, after exceptional items this was reduced to an operating profit of £400,000.

Margins grew from 8.8 per cent to 9.1 per cent, before shared costs, exceptional costs and goodwill amortisation. The group's purchase of Hire IT in June strengthened its leading position in rental IT equipment.

Sir Michael Bett, giving his last chairman's address, said: "After a marked decline during the early part of this decade, our markets have been stable and have shown modest growth over the last couple of years; we expect this recent trend to continue". He will be replaced by deputy chairman Ron Clark.

Compel shares on twere up 1.3 per cent in early morning trading.

Compel has 375 employees and two divisions - Compelsolve which sells to enterprises and Hamilton Rentals which hires out IT kit, on short-term rental.

The press release is here (PDF). ®

alert Send corrections


George Osborne, photo: HM Treasury
shutterstock_183801788_container ship

Chris Mellor

The SAN growth glory days are well and truly over, so where next?

Tom Whipp

Insurance industry insider tells all
Crypto fingers


Michael Dell. Pic by Joi Ito
Cool Texas dude is just your average billionaire
The Seeing Eye by Valerie Everett, Flickr, CC2.0
Follow the money – or, at least, our projections
Boats storm girl photo via Nikolina Mrakovic
The puppets from Team America: World Police gather at a bar for drinks.