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

Memristor_wafer

Chris Mellor

Execution warrant close to being signed for Fink's folly
Woman cuddles 'sly-looking' Fennec fox. Photo by Shutterstock
Cartoon of employee asking wky boss makes hium wear suspenders (while pincer through open trapdoor remains poised above his head) illustration by Cartoon resource for Shutterstock

Frank Jennings

It's not like my boss painstakingly nurtured the contacts, right?

Features

Girl and computer, photo via Shutterstock
Middle-class terror of engineering also part of problem
Nerd fail photo via Shutterstock
Shouting match
Single market vs. rest of the world