FINANCIALS
Sage CEO goes
the first quarter of 2010, ALSO reported consolidated net sales of CHF 1’069 million, exceeding the first quarter in 2009 by 2% (4% in local currencies). Compared with the same period last year, operating profit (EBIT) was up by 12% to CHF 13.8m. This encouraging result was achieved mainly thanks to measures introduced in 2009 to boost profitability. At CHF 6.6m, net profit was likewise substantially higher than the previous year’s figure.
Developing in individual market segments In the Switzerland/Germany segment, ALSO succeeded in pushing up net sales by 3% compared with the same period last year to CHF 746m. At CHF 8.0m, profit before tax was at practically the same level as in 2009. In the Northern/Eastern Europe segment, ALSO’s net sales stood at CHF 323m and, profit before tax was up substantially from CHF 0.5m to CHF 2.4m. ALSO assumes that the IT sector will improve slightly in the course of the year and, as things stand at present, expects net sales for 2010 to be at the same level as last year. It is still too early to make any reliable profit forecasts. Nevertheless, barring unforeseen circumstances, ALSO expects a considerably improved net profit compared with 2009.
Cisco has completed its voluntary offer for TANDBERG. The full product line is now part of the Cisco TelePresence portfolio. Through this combined offering, the business provides customers with access to a fully integrated architecture, a comprehensive network-based endpoint and infrastructure portfolio -- designed to help provide multivendor interoperability. With the close of this transaction, Fredrik Halvorsen, the former CEO of TANDBERG, becomes senior vice president and leader of the new TelePresence Technology Group within De Beer’s organization. This newly-formed group includes three fully integrated businesses that will focus on endpoints, infrastructure and Cisco TelePresence cloud services.
The boss of Sage is leaving the company he joined 26 years ago. Paul Walker, 52, has been at the helm of accountancy software firm Sage for 16 years and helped build the business through a series of acquisitions. A departure date has not been announced, but Sage said the board will work to ensure a “seamless transition” to the next boss. It has been reported that Paul Walker told the board he wanted to move on while he is young enough for fresh challenges. He joined UK-based Sage as company accountant when the business was just three years old. He was appointed finance director in 1987 and worked on the flotation of the firm on the London stock market two years later. It is now worth in excess of £3.3bn and has more than six million customers from the small and medium sized enterprise sector.
The company, which has a worldwide presence, employs 13,400 people. Paul Stobart, head of the UK and Ireland division, and chief financial officer Paul Harrison are seen as possible successors but external candidates are also being looked at. Panmure Gordon analyst George O’Connor said he had chosen a good time to move on. He said: “He leaves Sage in great shape, having fared very well through the downturn and the new boots - be that internal or external candidate - will arrive as the recovery is on a stronger footing and will be able to more easily drive growth through Sage.”
IBM says its first-quarter profit jumped 13% as it offered evidence that corporate technology spending is rebounding after the recession. IBM said it earned $2.6 billion in the first quarter. The improvement came not just from cost cutting, which IBM relied on last year to raise profits. In the most recent quarter, revenue climbed 5% to $22.9bn. IBM boosted its outlook for the rest of the year, citing a double-digit increase in software sales. “We had a very good start to the year,” Mark Loughridge, IBM chief financial officer, said in
30 APR 2010
RESELLERS
12.04.10 - 24.04.10
Dolmen Econocom Systemat EDB Groupe Ares Bechtle Cancom PC-Ware Altec Info-Quest Simac Techniek Komplett ProAct Computacenter (£) IS Solutions (£) Didata (£) Morse (£) Insight Systemax
RETAILERS
12.04.10 - 24.04.10
PPR 0.3 24.34 5.7 19.4 0.15 1.19 1.85 5.19 10.58 4 0.3 1.08 0.48 12.03 17.13 11 12 -8 2 -6 -6 3 0 13 16 24 -1 4 11 6
Price (4) % month change
109 15 11 511 59 162 32 58 27 87 103 579 7 1845 62 556 625
Mkt cap
4m
13797 16 14 12 20 11 12 20 11 22 18
P/E ratio
46 15 12 18 11.2 5.85 14 11 278 39 13
Price (4) % month change
Mkt cap
4m
P/E ratio
Metro Synaxon Plaisio CDC CHL DSGi (£) Game Group (£) Kesa Electricals (£) Office Depot 1.05 1.49 6.17 -7 2 1
Source: Thomson Financial Datastream
27
363 787 1696 5 23
46.4 4.3 5 2.38 0.16
10 -17 0.2 2 -1
15039 17 110 29 25
40 16 23 44
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