The Channel logo

News

By | John Oates 15th May 2006 08:31

Fayrewood AGM: warning on profits

But not all bad news...

Fayrewood, the pan-European distie and part owner of security distributor ComputerLinks AG, is holding its Annual General Meeting this morning.

Investors will hear chairman David Kleeman warn that margins are under the same pressure as in the second half of last year and niche divisional profits are likely to be lower than last year.

But the firm is keeping borrowing under control.

Kleeman said in a statement: "Sales for the first four months of 2006 are close to management's expectations and more than 10 per cent ahead of the same period last year. With margins under the same pressure as we experienced in the second half of last year, and with the constant pressure to improve working capital, niche divisional profits are unlikely to match last year at the half way stage."

Trading at ComputerLinks has been better and it will announce first quarter results on Thursday 18 May. The firm expects to pay an interim dividend in October of "not less than one pence per share, compared to 0.4 pence per share last year". ®

alert Send corrections

Opinion

Killer whale

Chris Mellor

Firm cites 'low demand' plus 'abusers'

Tim Worstall

Or why the reversal of globalisation ain't gonna 'appen
The full Spanglish breakfast: mealy pudding, bacon, black pudding, sausages, fried egg, toast
Blood image

Trevor Pott

Can the storage giant overcome a lack of necessary leadership?

Features

No, silly... he was the fall guy for years of Finnish folly
Fraud image
Frodo and the Ring
Microsoft's strategy is to make Store apps popular. Good luck with that