The Channel logo

News

By | Team Register 22nd November 2005 13:46

Fayrewood bid talks terminated

Trading update

Fayrewood's mystery suitor is suiting no more: the AIM-listed computer distie announced today that takeover talks, announced on 26 August, have been terminated.

Fayrewood sweetened the news with an upbeat trading statement and a commitment to increase dividend payments.

Turnover in its core distribution business increased by more than 20 per cent between 1 July and 31 October, comopared wit hte same time last year. On the back of this, it expects sales for the last six weeks of the quarter to help it meet profit expectations for the full year.

In 2006 it will accelerate plans to integrate its three European businesses - "where appropriate".

Now for a canned quote, from David Kleeman, non-exec chairman.

"We are confident that the Group will meet expectations for the current year,and are optimistic about our prospects for 2006. This strong performance provides the Board with confidence to adopt a much more generous dividend policy." ®

alert Send corrections

Opinion

WWI French tank picture via Shutterstock
Vinod_Khosla

Chris Mellor

A VC with startup agenda slams established suppliers. Surprised? Neither were we
ZenPad_RealRacing
Boy writes a letter to Santa. Pic via Shutterstock

Kat Hall

Cornwall's win over BT should be a cautionary relationship tale

Features

Eclipse image via Shutterstock
The Azure Portal: Microsoft is betting on cloud for its future business
container_ship_hamburg_shutterstock_648
Michael Dell. Pic by Joi Ito
Cool Texas dude is just your average billionaire