New centres boost ICM growth

ICM Computer Group, has posted it’s latest 6 months interim figures and they continue to impress showing strong growth across the business with the IT and Business Continuity Services group and delivering overall a 17% increase in profitability.

Over the past year ICM has invested heavily in its infrastructure and in July opened a new state of the art centre to serve the Bristol area, as well as, completing a major redevelopment and refurbishment of their Wapping facility in London doubling the capacity to 500 positions.

Barry Roberts, ICM’s Chief Executive, commented:

“This is another encouraging set of results that demonstrates the strength of our business strategy. The Group has again grown strongly as we begin to realise excellent returns on our investment programme, which we implemented over the last few years, and following the realignment of our Solutions Division in early 2004."

“The drivers in the Business Continuity marketplace continue to strengthen. We are committed to continuing the rollout of our Business Continuity activities and investments in this Division are a key feature of our strategy."

“We have started the second half of our financial year with a good contract base and good prospects for further wins in all areas of the business.”

Especially notable are the BCM revenues, which continued to show strong sales growth with Gross profit rising by 24%. It is expected that ICM will continue to further expand their recovery centre network, currently standing at 10, as these strong results continue to drive ICM’s BCM services growth.

Other key points are:

Group Turnover up 7%, with BCM revenues showing the strongest growth up 16%
Group Profit up 17%
Pretax profit up 10%
Earnings per share up 12%

ICM have also reported a strong order book going into the second half of their year with revenues of £22.6m already committed and has forecast continued strong growth as a result of further contract wins in all areas of the business.

The group also reports that it will continue to seek acquisitions to further boost its organic growth.

Ends

For further information:

Steve Wainwright - ICM Finance and Commercial Director 01924 422111
Adrian Duffield/Calre Warren - College Hill (PR) 020 7457 2020