CRC appoints McLaughlin new chief as sales soar

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The Independent Online

CRC, a technology repairs and service business, reported continued strong trading yesterday as it appointed Alan McLaughlin to the role of chief executive.

"Following on from our excellent full-year results announced in February, we can confirm continued strong growth," said Michael Peagram, the chairman, at the company's annual meeting.

Shares in the company, which repairs gadgets such as mobile phones and set-top boxes for companies including Nokia, closed up 12.5 per cent, or 25p, at 225p.

CRC said sales in the first quarter of the year "exceeded" its expectations and believed the second quarter of the year would also exceed original forecasts. The company, which said it had processed "record" volumes of technology equipment, has benefited from the trend of consumers hanging on to their existing gadgets longer rather than buying new ones.

CRC said it had won £13.3m worth of business from new and existing clients in the mobile phone, set-top box and IT equipment markets. "The new business that has been secured will serve to strengthen CRC's position as a leading provider of total after-sales service solutions," Mr Peagram said.

CRC said Mr MacLaughlin, would take up his new role on 15 April. Mr MacLaughlin, who was previously managing director of a division of Chloride Group, takes over from David Ryan who is leaving to join a private equity business.

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