ComputerLinks 2008 figures - turnover up but income dips

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ComputerLinks 2008 figures - turnover up but income dips

Simon Quicke

Security and e-business distributor ComputerLinks has reported its results for last year with turnover increasing but net earnings fell by 15% over the same period.

In the current circumstances the performance is not to be taken for granted with turnover up 14.6% to 537.5m Euro with a strong last six months of the fiscal year.

EBIDTA earnings fell by 15.3% to 16.2m Euro from 19.2m Euro in the same period a year before. Included in those numbers was a 2m Euro hit from expenses involved with a public takeover offer and an extraordinary general meeting.

Barclays Private Equity took over Computerlinks after the distributor approved a €15.50 per share offer for just under 85% of its assets last summer.

There was double digit growth across the distributors three divisions: e-security, e-business and professional services. But the channel player was cautious about how it would perform in 2009.

"We are assuming maximum single-digit growth rates in turnover for all three ComputerLinks business divisions for the current fiscal year 2009 with further decreasing margins in view of the difficult global economic scenario," the company stated.

"However we are well equipped to survive the present economic crisis and ultimately come out of this stronger," it added.

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