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ICM brand to disappear in new Phoenix merger

Alex Scroxton

ICM-owner Phoenix is to merge the business continuity and infrastructure services house with its own Phoenix IT Services business in a move that will see the ICM brand disappear from the market.

It is coming up to 12 months since Phoenix merged ICM with midmarket services outfit Servo in a nod to the converging technologies that they both sold.

At the time the firm booked hefty integration costs of £3.5m, but according to CEO David Courtley the changing services landscape meant the time was right to take the next step.

"The organisation change we have made will enable us to take full advantage of these opportunities and to delvier exceptional customer-centric solutions at a competitive price point," he explained.

In its last set of results, published at the end of November, Phoenix saw half-yearly sales drop 4.5% to £132.2m, while underlying pre-tax profits fell 4%.

Reflecting continuing macroeconomic uncertainty, the firm expects results for the back end of its financial year to be flat.


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