Logicalis delivers solid set of interim numbers for first six months

Logicalis has indicated that the UK market has remained sold for the six months ended 30 August as it reports its interim results.

Logicalis has indicated that the UK market has remained sold for the six months ended 30 August as it reports its interim results.

The contribution from Logicalis to the Datatec Group included revenue growth of 39% to $550.7m and an increase in operating profits to $23.2m compared to $3.3m a year earlier.

The company pointed to a solid performance in the UK market as well as growth in emerging territories like Brazil as contributing factors.

In a statement, Ian Cook chief executive of Logicalis, said that it had managed to deliver good numbers despite the worsening conditions in the economy.

"We achieved higher revenues and good growth in overall profitability, despite an increasingly tough economic climate in many markets. This has been largely due to our geographic and vendor partner diversity and increasing focus on growing annuity revenues which have yielded excellent results," he said.

The numbers from Logicalis top off what has been a reasonable day in financial terms in the tech sector with Computacenter and IBM also both providing reasons to raise a glass and proclaim a slight cheer for the health of the IT market.

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