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ICM Computers - Improved visability of earnings

April 2005

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • ICM
  • Price:
  • 374p
Half year results showed sales marginally up by 7% to £38.7m reflecting healthy growth in IT Support and Business Continuity, up 14% and 16% respectively, offset by lower activity in IT Solutions following the group's decision to reduce capacity within this division. Pretax profit was up 10% to £2.4m for earnings per share of 8.4p, up from 7.5p. The results show a continuing shift in ICM's strategy away from low margin and volatile IT solutions and into the more stable and profitable business continuity and support business. The much higher margins (83%) and the fact that 62% of sales are now from these areas means that the company has better earning visibility with ICM reporting that it has £22.6m sales already ...

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