ICM Computer Group said that earnings for the current year will take a hit as it refits a business continuity centre.
The statement came as it released results for the six months to December 31, which showed revenues of £37.4m, compared to £38.7m a year ago. Pre tax profits were £2.1m, compared to £2.5m previously. Excluding one off charges of £582,000, adjusted operating profit was up 5 per cent to £3.1m.
ICM saw strong growth in its business continuity business, and marginally lower activity in IT support. Revenue from IT solutions slipped 14 per cent, though profit contribution remained the same as business shifted towards professional services.
The firm said the rapid refit of its London Essex Business Continuity Centre, but the centre’s startup costs will hold back earnings for the year. It said it has already secured two significant contracts for the centre.®