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

Ship scrapyard photo via Shutterstock
Windows 10 Universal Apps
Windows 10 on Surface 3

Tim Anderson

It's do-or-die for Microsoft's new operating system on 29 July

Features

Steve Ballmer. Pic:  Aanjhan Ranganathan
Nokia is the biggest write-off yet, but it wasn't the first
Confused computer keyboard
Last Christmas, I gave you my Cloud, the very next day you gave it away
Time to pull out the magnifying glass to swot up on those Ts&Cs
Android icon desktop toys
Nice devices, now speak 'enterprise' to me